Bitcoin: Brace Yourself For A Massive Rally, BTC Could Hit $177k
Bitcoin (BTC) experienced one of its most significant rallies in May of this year. The original crypto’s price surged to an all-time high of $111,814 on May 22. BTC’s price has since faced a slight correction. The asset has fallen by 6.4% since its May peak. Bitcoin Dips As BlackRock Sells Source: Watcher.Guru BTC’s incredible rally last month was likely due to a surge in institutional investments. BlackRock, the world’s largest asset manager, purchased more than $3 billion worth of BTC in May. The recent price dip could be due to a dip in institutional funding. According to Arkham data, BlackRock sold BTC to stock up on Ethereum (ETH). The financial institution may have sensed incoming volatility. The sell-off may have spooked other market participants. Also Read: BlackRock Sold Bitcoin And Bought Ethereum: Should You Too? BTC’s price is down 0.6% in the daily charts, 3% in the weekly charts, and 5.7% in the 14-day charts. Despite the downtrend, the origin...