Bitcoin briefly dipped below $94,000 earlier this week but recovered strongly, stabilizing around the $100,000 mark by Friday.
Despite these mixed sentiments this week, institutional demand remained strong, adding $1.72 billion until Thursday.
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The COO of Indian crypto exchange Giottustold FXstreet that the financial incentive for investors is to support adding Bitcoin to a companyโs balance sheet.
Bitcoin (BTC) reclaimed the 100K level, trading near $100,100 on Friday after a recent decline earlier this week. The recent pullback in BTC was mostly due to high-leverage traders and some holders booking profits. Despite Microsoftโs rejection of adding Bitcoin to the companyโs balance sheet, institutional demand remained strong, recording a total inflow of $1.72 billion until Thursday. Giottus COO Arjun Vijay highlighted the growing financial incentive for companies to adopt Bitcoin on their balance sheets.
Bitcoin reaction this week
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