JPMorgan indicated that the rapid rise in the price of Bitcoin to $35,000 was due to the demand from institutional investors recorded in their report. Earlier, on October 24, Bitcoin reached the target level, and this was noted as the first cryptocurrency to enter the wallet of major players in the market. It is important to note that CME futures positions used by institutional investors have reached record levels not seen since August 2022. Such growth is an important indicator. It is also noted that Ethereum remains less active in this aspect. Experts noted a positive sentiment regarding the possibility of spot bitcoin ETF approval, and pointed out that purchases of bitcoin by US investors contributed to its growth.
