Crypto Daily – The (BTC) weekly candle closed at a price of $69,000, which is above the top of its bull flag, and on par with the all-time high of the previous bull market in November 2021. This excellent close could inspire the bulls to push the $BTC price higher over the course of this week.
Huge institutional buying of $BTC continues
The demand for Bitcoin is continuing to grow as the market is potentially seeing much higher $BTC prices going into the end of the year, especially with the U.S. Federal Reserve looking to make further rate cuts.
This demand appears to be led by institutional buying, which has been absolutely huge over the last six days of trading among the U.S. Spot Bitcoin ETFs. Those six days have seen a total net inflow of 36.58K BTC, which equates to more than $2.5 billion.
Ban or tax Bitcoin?
With all this said, a research paper was recently published from the Minneapolis Fed and the University of Minnesota, which urged U.S. authorities…
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