Bitcoin could push aggressively higher this month on two key catalysts.
One, according to CoinDesk.com, “May 15 marks the deadline for institutional investment managers to file form 13-F with the Securities and Exchange Commission. If more firms are shown to have purchased the newly approved spot bitcoin exchange-traded funds during the first quarter, this will show bitcoin has gained further institutional acceptance.”
The other potential catalyst is the potential rejection of an Ether ETF.
“This is significant because while Ethereum’s fate may remain up in the air until 2025 or longer, we believe there’s a substantial amount of capital waiting for a digital winner to be declared; to the extent Bitcoin proves to be that winner, the incremental demand would likely be felt even more acutely given the recent bitcoin halving,” TD Cowen analyst Lance Vitanza added.
If those push Bitcoin higher, as expected, BTC mining stocks, like Marathon Digital (MARA) could go along for the ride.
Sincerely,
Ian Cooper
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