💰 Gate.io Daily Topic & Post Event
➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
✍️ Post with #Bitcoin
Bitcoin Price Forecast: BTC eyes $97,000 as institutional inflow surges $3.06 billion in a week :
Bitcoin price stabilizes above $94,000 on Monday, following a 10% rally the previous week.
US Bitcoin spot ETFs recorded a total inflow of $3.06 billion last week, the highest weekly figure since mid-November.
The technical outlook suggests a successful breakout above $95,000 could rally toward $97,000.
Bitcoin (BTC) price is stabilizing above $94,000 at the time of writing on Monday, following a 10% rally the previous week. The institutional demand supports a bullish thesis, as US spot Exchange Traded Funds (ETFs) recorded a total inflow of $3.06 billion last week, the highest weekly figure since mid-November. The technical outlook suggests that a successful breakout above $95,000 could lead to a rally toward $97,000.
Bitcoin inflows have reached levels since the US Presidential election
Institutional demand strengthened last week. According to the SoSoValue data, the US spot Bitcoin ETFs recorded a net inflow of $3.06 million last week after an inflow of $15.85 million the previous one. Last week’s inflow record reached levels seen during the US Presidential election in November, where BTC price soared above $100,000 for the first time. If the demand from institutional investors continues and intensifies, Bitcoin could see a similar price rally.
#BTC#