From Investing.com

July 12, 2024 2:30:24 pm:

The cryptocurrency market is recovering with substantial inflows from retail and institutional investors. Nine ETFs added 1,661 BTC, worth $95.82 million, signaling renewed interest. Fidelity increased their Bitcoin holdings by $58 million, now totaling $10 billion. Grayscale, on the other hand, reduced their BTC by $38 million, leaving them with $15.77 billion in holdings.

Fidelity’s positive outlook on Bitcoin’s growth is evident through their increased holdings, while Grayscale’s Bitcoin Trust saw a decline. The price of Bitcoin currently hovers around $57,284, with key support levels at $58,163. Institutional confidence in Bitcoin is demonstrated by active additions to BTC ETFs, driving market sentiment towards long-term benefits.

The total market capitalization of all cryptocurrencies, excluding Bitcoin, has exceeded $2 trillion, indicating potential stability and progress. The $2 trillion mark serves as a crucial technical and psychological support level, paving the way for future advancement in the crypto market.

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