$BTC

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Eyes $101,000: Institutional Demand Driven Rally Supported by Bullish Momentum

With $98,400 trade, up 1.5% over the previous 24 hours, Bitcoin (BTC) shows great upward momentum. The fact that the bitcoin stays above the vital $98,000 pivot mark shows that buyers are keeping control. With possibility to attempt the psychological barrier of $101,000, a breakthrough over this level might drive Bitcoin towards the immediate resistance at $99,200.

Boosts in institutional demand help to shape market attitude

The success of Bitcoin still depends much on institutional curiosity. Recently acquiring an extra 69 BTC at an average price of $96,335, Japanese publicly listed company Metaplanet has around $6.6 million worth.