20 Jun 2023

Institutional players getting ready for a new bull market?

BlackRock, Citadel, Fidelity, Deutsche Bank and Charles Schwab making moves in the crypto market
Ahead June 20

In Short

Strong flow of institutional headlines leads BTC to shake off FOMC related downside as BTC recovers towards $27k.


  • BlackRock files for BTC ETF, leading BTC to see 3% upside for the week
  • The FED's dot plot surprised the market, suggesting higher rates for longer
  • Open interest grows by 12k BTC as funding rates remain below neutral

A very beneficial environment for BTC towards the tail-end of 2023

Bitcoin dominance increased further over the past week pushing beyond 50%, following a week of positive institutional bitcoin announcements leading BTC to rise 3%. The most monumental announcement came from BlackRock, who filed for a BTC ETF, covered in detail on page 6. Further, EDX Markets, a
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