July 4 (Cointime) - Institutional investors are showing increased interest in Bitcoin, with fund holdings reaching a year-to-date peak as the cryptocurrency's price hovers just under $31,000. Analyzing the holdings of these funds can provide valuable insights into market dynamics and investor sentiment, revealing a strong interest in acquiring Bitcoin even at its current price level.
This accumulation, combined with regulatory clarity, has pushed Bitcoin's market dominance to over 50%, and the overall supply of Bitcoin on exchanges is shrinking. As a result, the flagship cryptocurrency could overcome a significant resistance line at $31,000 for the first time in over a year.
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