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Related: Bitcoin (BTC) Eyes Major Rally: Growing Demand to Drive Recovery
In Brief Bitcoin’s price is still moving within a flag pattern, preparing for a potential breakout by securing $65,000 as support. The NUPL shows that demand has seen a considerable increase in this cycle, powered by institutional interest. This demand will likely increase going forward, given that BTC presents an attractive risk/reward ratio for investors. Bitcoin’s (BTC) price is anticipating a rally, which would help the cryptocurrency recover its recent losses. The institutions are the key to this, but retail investors are also gaining prominence in the market. This would give BTC the necessary boost to break out of the current downtrend. Bitcoin Demand Sees a Surge Bitcoin’s price largely depends on the institutions for the present bull run, and the market is seeing the effects of the same. Last Friday marked the first…
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