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.
Comments