Posted 10/26/2023, 9:56:00 AM
Institutional Demand Driving Bitcoin Price Rally on Hopes of SEC Approving Spot ETF
- Optimism grows about SEC approval of a spot bitcoin ETF, according to JPMorgan report
- Bitcoin has strongly outperformed other digital assets, reflecting this optimism
- JPMorgan analysis shows recent bitcoin price impulse had institutional participation
- Large bitcoin inflows into bigger wallets points to institutional demand
- This contrasts with previous retail-driven rallies led by smaller wallets
