Bitcoin Price Broke the $59,000 Level – Here’s Why
08.08.2024 18:57 1 min. read Alexander Stefanov
On Thursday morning, Bitcoin surpassed $57,000 after falling to below $50,000 during Monday's market sell-off.
At the time of writing, the price of Bitcoin has seen a 4% increase, trading for around $59,000.
According to JPMorgan, this rebound is mainly due to institutional investors. The limited de-risking seen in Bitcoin futures during the crash indicates continued confidence from these investors.
In other news, Morgan Stanley is allowing its financial advisors to recommend the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund (FBTC).
As reported, Morgan Stanley is the first major Wall Street firm to actively promote these Bitcoin funds to clients, while firms like Merrill Lynch and UBS only offer them at client request.
-
1
Bitcoin: What to Expect After Hitting a New All-time High
10.07.2025 14:00 2 min. read -
2
Peter Brandt Issues Cautious Bitcoin Warning Despite Bullish Positioning
10.07.2025 20:00 2 min. read -
3
Standard Chartered Becomes First Global Bank to Launch Bitcoin and Ethereum Spot Trading
15.07.2025 11:00 1 min. read -
4
Vanguard Now Owns 8% of Michael Saylor’s Strategy, Despite Calling BTC ‘Worthless’
15.07.2025 17:09 2 min. read -
5
What’s The Real Reason Behind Bitcoin’s Surge? Analyst Company Explains
12.07.2025 12:00 2 min. read
Global Money Flow Rising: Bitcoin Price Mirrors Every Move
Bitcoin is once again mirroring global liquidity trends—and that could have major implications in the days ahead.
What is The Market Mood Right Now? A Look at Crypto Sentiment And Signals
The crypto market is showing signs of cautious optimism. While prices remain elevated, sentiment indicators and trading activity suggest investors are stepping back to reassess risks rather than diving in further.
What Price Bitcoin Could Reach If ETF Demand Grows, According to Citi
Citigroup analysts say the key to Bitcoin’s future isn’t mining cycles or halving math—it’s ETF inflows.
Is Bitcoin’s Summer Slowdown a Buying Opportunity?
Bitcoin may be entering a typical summer correction phase, according to a July 25 report by crypto financial services firm Matrixport.
-
1
Bitcoin: What to Expect After Hitting a New All-time High
10.07.2025 14:00 2 min. read -
2
Peter Brandt Issues Cautious Bitcoin Warning Despite Bullish Positioning
10.07.2025 20:00 2 min. read -
3
Standard Chartered Becomes First Global Bank to Launch Bitcoin and Ethereum Spot Trading
15.07.2025 11:00 1 min. read -
4
Vanguard Now Owns 8% of Michael Saylor’s Strategy, Despite Calling BTC ‘Worthless’
15.07.2025 17:09 2 min. read -
5
What’s The Real Reason Behind Bitcoin’s Surge? Analyst Company Explains
12.07.2025 12:00 2 min. read