Bitcoin yearly high supported by institutional conviction
Bitcoin is trading at yearly highs just below $35k after positive signals of an imminent spot ETF launch, a massive push in institutional activity, and a huge short squeeze in perps.
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In this week's Ahead of the Curve:
- Expected institutional inflows the important factor in the current rally
- CME traders increased exposure throughout the rally
- … while the rally has forcefully reduced offshore exposure
- No local top signals in the ETF flows
- Keep a close eye on the offshore derivatives markets going forward
