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Bitcoin Price Strengthens Amidst Institutional Interest and Market Uncertainty

Bitcoin's price is bouncing back from resistance at $27,200, and investors are watching to see if it settles above $27,000 and continues towards $31,000 or drops to seek liquidity from support at $25,000. The crypto market is also keeping an eye on the Federal Reserve's meeting on Wednesday, as economists expect a pause in interest rate hikes. Nomura, Japan's largest bank, has launched an Adoption Fund for institutional investors, attracting interest from global firms like Blackrock and Fidelity Investments.

The supply of stablecoins held by wealthy individuals with a balance of over $5 million has reached a six-month low, which could impact Bitcoin's price. Additionally, Polygon and STORJ are experiencing growth, with the latter reaching a four-week high.

Bitcoin Bitcoin $98,518.74
+0.59%
Bitcoin Federal Reserve stablecoins
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