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After strong gains across the cryptocurrency market the week previous, Bitcoin is currently consolidating around the 31,000 level of resistance. However, over the past week, roughly US$200 million of institutional liquidity flowed into digital asset investment products, the largest weekly inflow since July 2022. The inflows offset more than half of the institutional outflows over the past 9 weeks.

📈 Institutions are BULLISH on BTC: This week, Bitcoin exploded to the 31K USD resistance level due to news of institutions piling into the cryptocurrency market, despite the ongoing legal battles between the SEC, Binance and CoinSpot. The largest fund on the planet (BlackRock) applied for Bitcoin Spot ETF, highlighted last week.

🏢 Is the FED pivot here? This week, the Federal Reserve decided to keep interest rates on hold for the first time in 15 months. There have been 10 consecutive interest rate hikes in the US. Jerome Powell stated that there would be another 2 possible rate hikes later this year, with analysts calling it a "Hawkish Pivot".

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There have been several high-impact news stories impacting both the cryptocurrency market and equity market over the past couple of weeks. In this blog post, we will break down some of the key events: US Regulators At War With Crypto Just this week, the SEC made two announcements indicating legal action against both Coinbase and Binance.

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Bitcoin Long-term View: Despite the negative market sentiment, the clamp down across the globe on the cryptocurrency industry, the ongoing banking crisis, the looming recession and surging interest rates, BTC is moving as expected. Bitcoin is still trading inside the rising channel formation/structure. After tagging the lower bound of the channel at roughly 15,500 USD in December 2022, BTC reached its first major milestone at 30,000 USD, up roughly 100%.

Here are some of this week's crypto headlines! XRP Gaining Momentum: XRP is on the cusp of another bullish breakout from a bull flag formation. The CEO of Ripple believes that the payment industry giant will win the SEC lawsuit in a landmark manner. In an interview, Brad Garlinghouse expressed his confidence that the SEC vs.

While volatile, cryptocurrency has the potential to generate immense returns. Investors who are willing to withstand short-term price swings could potentially benefit from substantial long-term gains. But crypto is not just a financial instrument - many cryptocurrency projects are based on innovative technologies. They might revolutionize various industries, from finance to supply chain management and beyond.