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Analyst: Institutional Demand Driving Bitcoin to New Highs
Summary: According to reports, Tickmill Group analyst Patrick Munnelly stated in a report that Bitcoin has reached a historic high driven by the interest of institutional investors and support measures from President Trump. Munnelly mentioned, 'The recent surge in Bitcoin value is driven by continuous buying from institutional investors, who are purchasing large amounts of available ...
According to reports, Tickmill Group analyst Patrick Munnelly stated in a report that Bitcoin has reached a historic high driven by the interest of institutional investors and support measures from President Trump. Munnelly mentioned, 'The recent surge in Bitcoin value is driven by continuous buying from institutional investors, who are purchasing large amounts of available supply, leading to a decrease in liquidity on trading platforms.' Additionally, Trump has ordered the establishment of a strategic Bitcoin reserve, and the US Senate passed a bill last month to provide a regulatory framework for stablecoins.
