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Institutional investments in Bitcoin are at a record high; the falling BTCUSD is an excellent opportunity

The growing institutional investors are drawing widespread attention towards Bitcoin. The fall of BTCUSD is allowing these in
The growing institutional investors are drawing widespread attention towards Bitcoin. The fall of BTCUSD is allowing these institutions to dig into their cash reserves and buy Bitcoins.

Bitcoin is on a roller-coaster journey since its halving on May 12. Since then, it has seen the highs of $9,800 and the lows of $8,800. However, one thing was uniformly growing during this period- institutional attention towards BTC.

Another substantial incident during the past two weeks is the delineation of BTCUSD from the Dow Jones Industrial Average Index. And this change has been for the better.

Why is Bitcoin suddenly gaining a lot of attention from institutional investors?

The notion that is doing the rounds regarding the sudden attention of Bitcoin from Financial Institutions is half-baked. Institutions have been looking into BTC for quite some time now.

The kind of research and brainstorming institutions do before any investments are enormous. The only reason this news is coming out in the media is the higher influx of investments post the BTC-halving.

Does this mean Bitcoin is bullish now?

The simple answer is NO.

Just because institutions are investing doesn’t mean BTCUSD is bullish. Institutions look at a longer-term horizon for their investment activities. And Bitcoin is bullish in the long run.

The declining BTCUSD is an excellent opportunity to buy Bitcoin. Institutions such as JP Morgan are purchasing Bitcoin in small quantities as and when BTC is falling. It gives them a chance to average the cost of buying, in case of prices falling further.

BTCUSD Technical outlook

btcusd bitcoin

Source: TradingView.com

If we look at the BTCUSD daily charts, we can see that the supports are at $8913 and $8299.52.

The day’s range for BTCUSD is $9,216.08 — $9,590.00.

In a daily timeframe, the Relative Strength Index is neutral. However, both the 20-day Simple Moving Average and the 20-day Exponential Moving Average are giving a buy signal on BTCUSD.

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