BTC inflows by institutions purchase more, aiming for a 100k psychological price.
Bitcoin slipped below at zone price of USD93k as the taking profits of securing short-term gains by some traders. But it is a necessary retracement in short-term support for the next impulsive move.
Some supported bullish catalysts for BTC:
On Dec. 10 when Microsoft shareholders will vote on whether to add BTC to the company’s balance sheet. Expecting the approval from Microsoft to adopt BTC.
On Dec. 2, MicroStrategy revealed that the company had sold 3.7 million shares of its Class A common stock. MicroStrategy announced purchasing 15,400 Bitcoin for $1.5 billion at $95,976 per BTC.
On Dec. 2, Blackrock, its iShares Bitcoin Trust (IBIT) ETF’s Bitcoin holdings reached 500,380, worth around $48 billion at current market prices, responsible for 2.38% total supply value of 21 million BTC supply.
MARA Holdings, a crypto miner, announced that it purchased 6,484 Bitcoin between Oct. 1 and Nov. 30. The firm bought the coins for $618.3 million at an average price of $95,352.
-> Money flows in Bitcoin prepare for the upcoming bullish move as institutional buyers show a strong optimistic outlook for Bitcoin as a reserve asset in their companies.