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Institutional Demand For Bitcoin Surges as U.S. Spot ETFs Control $58 Billion, Sparking Market Uncertainty

  • Institutional investors in the U.S. are showing increased demand for Bitcoin, with U.S. spot ETFs now holding $58 billion worth of the cryptocurrency.
  • Investment giants like BlackRock, Fidelity, and Grayscale are actively acquiring Bitcoin in the price range of $54,900 to $59,100.
  • The current open interest in Bitcoin has crossed $18 billion, leading to divided opinions on the future direction of the market.
  • Bitcoin whales have offloaded or redistributed around 30,000 BTC, worth $1.83 billion, causing further market volatility.

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