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Institutions Pour $858M into Crypto, Bitcoin Nears $82K
Description
Institutions poured $858 million into crypto funds last week, with over $700 million targeting bitcoin products, marking the biggest weekly haul since April. Bitcoin is hovering around $81,000, just below its 200-day moving average. Analysts anticipate a daily close above $82,000 for a fresh rally. Altcoins are also gaining traction, with Suis token surging 12% and XDC climbing over 10%. Ethers Bollinger Bands are squeezing, hinting at a significant breakout. Bitcoin mining received a decentralization boost as pools controlling 75% of the hashrate endorsed a new open standard for blocks.
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