Bitcoin Caught Between Improving Institutional Adoption, Macro Pressures

Dow Jones17:17

0917 GMT - Bitcoin remains caught between improving institutional adoption and persistent macroeconomic pressures, Zaye Capital Markets analyst Naeem Aslam says in a note. Switzerland's financial regulator has approved the country's first retail spot bitcoin exchange-traded fund while J.P. Morgan Asset Management has incorporated bitcoin into its long-term capital market assumptions for the first time, he says. Institutional demand has also improved with bitcoin ETFs recording net inflows. However, Treasury yields and the dollar rise as oil prices jump on Middle East supply disruptions, weighing on bitcoin. Bitcoin's immediate performance remains driven by dollar liquidity, interest-rate expectations, institutional fund flows, and leveraged trading activity, he says. Bitcoin falls 0.1% to $82,727, LSEG data show.

 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment