- BlackRock, Fidelity, Franklin Templeton, Invesco Galaxy, and WisdomTree are included in the list of top investors eyeing BTC ETFs.
- Over the past 24 hours, BTC’s price was able to climb by 0.90%, which left it trading hands at $25,981.03.
- If BTC is able to close today’s daily candle above the 9-day EMA, then it may attempt to overcome the $26,915 level.
The Bitcoin (BTC) monitoring Twitter (X) account, Documenting Bitcoin, shared a post on X yesterday, revealing that many big-name institutional investors are taking the opportunity to file for BTC ETFs (Exchange Traded Fund). BlackRock, Fidelity, Franklin Templeton, Invesco Galaxy, and WisdomTree were the top 5 largest companies to file for the sought-after ETF.
Also included in Documenting Bitcoin’s list were VanEck, GlobalX, ARK Invest, Bitwise, and Valkyrie. Overall, the total assets managed among all of the ETF hopefuls amount to $17.7 trillion.
With regards to what BTC’s price has been up to over the past 24 hours, CoinMarketCap indicated that the market leader’s price was able to climb by 0.90% during this time. This left BTC trading hands at $25,981.03 at press time.
Although the cryptocurrency was able to set a 24-hour high of $26,451.94, it was trading a bit closer to its daily low of $25,744.51. Meanwhile, BTC’s 24-hour trading volume took a more than 11% knock throughout the past day of trading. This left it standing at around $15,835,899,188.
The increase in BTC’s price allowed its weekly performance to rise back into the green to +0.92. However, the market leader suffered a more than 11% loss over the past thirty days.
In the past 3 days, BTC’s price rebounded from the $24,695 support level. Subsequently, the cryptocurrency garnered the momentum needed to break above the 9-day EMA line at around $25,840.71, where it continued to trade at press time.
If BTC is able to close today’s daily candle above this technical indicator, then it may attempt to overcome the 20-day EMA line as well, before challenging the $26,915 resistance level in the coming few days. A break and a sustained position above this barrier will open up the possibility of BTC’s price rising to the next significant price point at $30K.
However, BTC’s failure to close today’s daily candle above the 9-day EMA line will invalidate this bullish thesis. In this scenario, the leading cryptocurrency’s price could drop back down to the aforementioned support level at $24,695.
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