Bitcoin price holds $28K range as institutional investor maneuvering boosts sentiment
Comments from institutional investors and amendments to the spot Bitcoin ETF applications could be behind the recent improvement in investor sentiment. Bitcoin (BTC) price continues to show strength this week by hitting an intra-day high at $28,516 even as macroeconomic headwinds in the United States continue to weigh on investor sentiment . It’s possible that a certain degree of BTC’s price stability can be attributed to increasing institution al activity and positive institution al investor interest in Bitcoin. On Oct. 17, Fidelity Investments, a large asset management institution, amended their proposed spot Bitcoin ETF with the Securities and Exchange Commission (SEC). The ETF called the Wise Origin Bitcoin Trust, updated and outlined how Fidelity plans to protect customers’ Bitcoin in custody accounts and revealed risks associated with the unstable regulatory landscape of cryptocurrencies. Fidelity is following in the footsteps of other large institutions like ARK Invest and...