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<p>The price of Bitcoin has been in an uptrend for over 3 weeks after reaching a local bottom around $38,600. Since then, the price has rallied and reached new yearly highs, with the price presently above $51,000. Crypto analyst Ali recently shed some light on what may be causing this latest Bitcoin surge.</p>
<h2 class="wp-block-heading" id="institutional-demand-fuels-price-action">Institutional Demand Fuels Price Action</h2>
<p><a href="https://twitter.com/ali_charts/status/1758535502439825588?t=IG8cFDL706ARZPeFqLXRHw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">According to crypto analyst Ali, </a>the recent bitcoin price rally appears to be driven primarily by institutional demand rather than retail investors.</p>
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<p>Ali points out on X that as the price of bitcoin has increased, there has been a noticeable decline in the number of new bitcoin addresses created daily. This suggests a lack of participation from individual retail investors in the current bull run.</p>
<p>Meanwhile, the SEC has approved several spot bitcoin ETFs set to begin trading this year. Analysts predict significant inflows into these ETFs from institutional investors, estimating up to $39 billion by the third year. The ETFs allow institutions easier access to gain exposure to bitcoin.</p>
<h2 class="wp-block-heading" id="mainstream-adoption-increasing">Mainstream Adoption Increasing</h2>
<p>The approval of spot bitcoin ETFs also signals growing mainstream acceptance of the cryptocurrency. Major financial outlets are covering the expanding institutional interest in bitcoin as a digital store of value or “digital gold.”</p>
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<p>Bitcoin now represents around 48% of the total crypto market capitalization. Its market dominance points to its strength as institutional investors increasingly look to diversify into the space.</p>
<p>Their participation helps drive innovation and maturity in the broader cryptocurrency ecosystem. Additionally, the education and awareness resulting from institutional involvement helps pave the way for further mainstream adoption.</p>
<p>The confluence of factors suggests bitcoin’s appeal to institutional investors is a significant driver of the ongoing rally. While retail activity may be declining, institutional demand appears to be on the upswing and fueling the latest bull run.</p>
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<p>The post <a href="https://captainaltcoin.com/whats-behind-the-ongoing-bitcoin-btc-rally/" rel="noopener noreferrer nofollow">What’s Behind the Ongoing Bitcoin (BTC) Rally?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

What’s Behind the Ongoing Bitcoin (BTC) Rally?

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