Institutional Interest Drives Bitcoin's Rise$BTC

Bloomberg Senior ETF Analyst Eric Balchunas noted that institutional interest and the growing adoption of Bitcoin exchange-traded funds (ETFs) have helped drive Bitcoin's market cap higher.

BlackRock's iShares Bitcoin Trust (IBIT) saw $4.5 billion in trading volume, indicating increased institutional participation. Additionally, the broader Bitcoin ecosystem, including ETFs, MicroStrategy, and Coinbase, saw record trading volume of $38 billion.$MAGIC $MAV