TechFlow reported that Cycle Capital pointed out that Bitcoin hit a low of $49,000 last week, close to the production cost estimated by JPMorgan Chase. If the price remains at this level or below for a long time, it may put downward pressure on miners and Bitcoin prices. However, several factors still support institutional investors to remain optimistic:
Morgan Stanley allows wealth advisors to recommend Bitcoin spot ETFs;
The pressure of liquidation in the Mt. Gox and Genesis bankruptcy cases may have passed;
FTX bankruptcy may release tens of billions of dollars in cash by the end of the year, stimulating market demand;
Both parties in the US election may support favorable cryptocurrency regulations;
