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Bitcoin's $30,000 Support Shows Strength Amid Institutional Inflow and Regulatory Improvements

June 27 (Cointime) - Bitcoin has maintained the $30,300 resistance for the past three days, while gold reached its lowest level in three months. The recent price rally of Bitcoin has been attributed to BlackRock's spot Bitcoin exchange-traded fund (ETF) filing, as well as the ProShares Bitcoin Strategy ETF experiencing its largest weekly inflow in a year.

The U.S. crypto regulatory environment may be improving, with a draft bill in the U.S. House of Representatives aiming to prohibit the SEC from denying digital asset trading platforms registration as a regulated alternative trading system.

Bitcoin bulls have added leverage-long positions using margin and futures markets, and should now have the upper hand to sustain the $30,000 BTC price support level in the coming weeks.

Bitcoin Bitcoin $98,312.86
-0.42%
Bitcoin Gold BlackRock
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