Bitcoin Hovers Near $89K as Institutions Quietly Accumulate: Asia Morning Briefing
FlowDesk sees fading post-Fed demand and low leverage, while Glassnode data show digital asset treasuries quietly resuming bitcoin accumulation in a range-bound market.
Bitcoin continues to hover near the $89,000 mark as institutional investors are quietly accumulating the digital asset. Data from FlowDesk indicates a decrease in post-Federal Reserve demand and lower leverage among traders in the market. Meanwhile, Glassnode's data highlights how digital asset treasuries have been quietly resuming their accumulation of Bitcoin amidst a market that remains range-bound.
With a cautious approach being taken by traders, the current market sentiment suggests a period of consolidation and observation. The steady accumulation by institutions may signal a growing confidence in Bitcoin's long-term potential as a store of value and investment asset.
As the market dynamics continue to evolve, all eyes are on how institutional players and balance sheets will influence the direction of Bitcoin's price movement in the coming days.