US spot exchange-traded funds (ETFs) hold 4.6% of Bitcoin's total supply, valued at $58 billion, indicating growing institutional demand and potential price stability.
The entry of institutional money signifies Bitcoin's acceptance as a legitimate investment option and highlights its ability to diversify portfolios and hedge against inflation.
The balance growth in Grayscale's Bitcoin Mini Trust holdings further demonstrates strong institutional demand.
Bitcoin's price at $61,800 faces a critical challenge to reclaim the 1-day 200 moving average and maintain momentum, which will determine its short-term trajectory.