Bitcoin Price Surges Past $35k on Growing Institutional Demand and Anticipation of SEC Approving Bitcoin ETF
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Bitcoin price rallied above $35k after consolidating for 7 months below $32k resistance. Further upside expected.
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Possible catalysts include anticipation of SEC approving Bitcoin ETF, expectations of Fed monetary easing, and institutional accumulation ahead of ETF.
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CME Bitcoin futures open interest exceeded 100k BTC for the first time, signaling increased institutional interest.
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Bitcoin decoupling from equities as institutions accumulate spot BTC and hedge with futures.
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If institutions are buying Bitcoin en masse, SEC approval of Bitcoin ETF appears imminent.
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