๐ข GRAYSCALE CONFIRMS THE FLOOR OF THE BITCOIN CYCLE AT $58K AND GIVES INSTITUTIONAL CLIENTS THE GREEN LIGHT ๐๐
Zach Pandl, research director at Grayscale, announced that the $58,000 USD minimum recorded in June marked the definitive bottom of the Bitcoin ($BTC ) cycle, enabling institutional purchases once again.
Key points from Grayscaleโs report:
๐ฏ Floor validation: The firm considers the capitulation phase over after the $58,000 USD zone was respected in June.
๐ข Institutional green light: Institutional clients were allowed to reallocate capital once the three conditions in their strategic framework were met.
๐ Cycle discount: Trading around $76,000 USD, Bitcoin is still down about 39% versus its all-time high of roughly ~$126,000 USD.
Do you think Grayscaleโs backing will spark a new wave of institutional buying, or will the market seek to retest lower levels?
๐ฌ๐ Iโll read your thoughts in the comments!
#Grayscale #ZachPandl #Institucional #CryptoMarket #CryptoCommunity
$BTC
$ETH
$BNB
Zach Pandl, research director at Grayscale, announced that the $58,000 USD minimum recorded in June marked the definitive bottom of the Bitcoin ($BTC ) cycle, enabling institutional purchases once again.
Key points from Grayscaleโs report:
๐ฏ Floor validation: The firm considers the capitulation phase over after the $58,000 USD zone was respected in June.
๐ข Institutional green light: Institutional clients were allowed to reallocate capital once the three conditions in their strategic framework were met.
๐ Cycle discount: Trading around $76,000 USD, Bitcoin is still down about 39% versus its all-time high of roughly ~$126,000 USD.
Do you think Grayscaleโs backing will spark a new wave of institutional buying, or will the market seek to retest lower levels?
๐ฌ๐ Iโll read your thoughts in the comments!
#Grayscale #ZachPandl #Institucional #CryptoMarket #CryptoCommunity
$BTC
$ETH
$BNB