Bitcoin price drops 25%, but institutional investment rises
fool.com —
Bitcoin's price has dropped nearly 25% from its all-time high of $109,000, now falling below $80,000. Analysts warn it may approach $70,000 as investors react to market volatility and shift funds to safer assets like gold. Despite recent outflows from Bitcoin exchange-traded funds (ETFs), institutional investment has surged to $38.7 billion, more than triple the previous quarter. Additionally, the U.S. government is considering expanding its Bitcoin reserves, while over 20 states propose their own reserves. Global adoption of Bitcoin is increasing, particularly in Europe and Latin America, due to favorable regulations. However, Bitcoin currently lacks a strong catalyst for growth, making it susceptible to broader market fluctuations.