$BTC Banks are entering one after another, but the price is still stuck at 73,800, going nowhere.
Deutsche Bank began offering Bitcoin custody for European institutional clients on 11/11, while Israel Discount Bank announced that retail customers will be able to buy and sell through its app starting 11/26.
But Bitcoin traded in a narrow range between 73,390 and 74,811 on Binance spot over the past 24 hours, with virtually no change, and $ETH even edged down 0.7%.
The long-to-short ratio among Binance retail accounts is still +45.9%—anyone looking to jump in is already on board.
My take: banks opening their doors is a long-term story. In the short term, the key is whether the price can hold above 74,800; if it can’t, the good news is just background noise.
(Data: Binance spot 24-hour market data at 11/12 12:53, Binance long/short ratio at 10:14, Taipei time)
Deutsche Bank began offering Bitcoin custody for European institutional clients on 11/11, while Israel Discount Bank announced that retail customers will be able to buy and sell through its app starting 11/26.
But Bitcoin traded in a narrow range between 73,390 and 74,811 on Binance spot over the past 24 hours, with virtually no change, and $ETH even edged down 0.7%.
The long-to-short ratio among Binance retail accounts is still +45.9%—anyone looking to jump in is already on board.
My take: banks opening their doors is a long-term story. In the short term, the key is whether the price can hold above 74,800; if it can’t, the good news is just background noise.
(Data: Binance spot 24-hour market data at 11/12 12:53, Binance long/short ratio at 10:14, Taipei time)