Bitcoin: Strong Growth Trend Approaching
Recent on-chain data shows that long-term investors continue to accumulate Bitcoin strongly. It is expected that the upcoming Bitcoin price will experience a parabolic growth pattern, driven by increased global liquidity and institutional acceptance. As the price of gold (XAU) shows signs of reversal after an impressive rise since the beginning of 2024, the capital flow into Bitcoin has accelerated.
In the past three months, long-term investors have purchased over 254,000 Bitcoin, now holding approximately 14.3 million coins. This demonstrates Bitcoin's appeal as a reliable store of value.
Participation of Prestigious Universities
Brown University, one of the oldest universities in the United States, has revealed holdings of $4,915,050 in BlackRock's Bitcoin ETF Trust. The IBIT fund has grown significantly over the past year, now holding approximately 607,685.5 Bitcoin, valued at over $58 billion. With this move, Brown University becomes the third university in the United States to publicly enter the cryptocurrency market, following Emory University and the University of Austin (UATX).
With more than $7 billion in funding, Brown University has the potential to convert a portion into Bitcoin in the future. This highlights the significance of Bitcoin as a strategic asset in the investment portfolios of large institutions.
Impact on Bitcoin Price
The acceptance of Bitcoin by institutional investors, along with increased global liquidity, has helped bolster positive sentiment around this cryptocurrency. Bitcoin is preparing to record its fourth consecutive week of price increases, following a volatile first quarter due to concerns over trade wars.
In terms of technical analysis, the price of Bitcoin is currently aiming to retest its all-time high, setting the stage for the expected parabolic growth in 2025. However, if the price drops below $92,000, this could trigger a market sell-off and increase selling pressure in the following weeks.
Source: https://tintucbitcoin.com/brown-va-blackrock-ibit-cong-bo-5-trieu-usd-gia-bitcoin-bat-tang/
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