Bitcoin Faces 'Torrent' of Institutional Inflows Ahead of Expected US ETF Approval While Ethereum ETF Could Also Boost Prices, But Declining RSI Signals Caution
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Bitcoin faces a "torrent" of institutional inflows ahead of expected US ETF approval, according to Dan Tapiero of 10T Holdings.
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Bitcoin futures open interest on CME exceeded that on Binance for the first time, signaling growing institutional involvement.
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Aggregate Bitcoin futures open interest recently hit 7-month highs above $17 billion.
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Trading firm QCP Capital predicts potential Ethereum ETF could also boost crypto prices.
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However, QCP warns Bitcoin's declining daily RSI signals need for caution at current resistance levels.