Bitcoin to Face a “Torrent” of Institutional Inflows: Tapiero

CME Surpasses Bitcoin Futures OI with Institutional Uptake Driven by 'Real' Facts

CME leads in Bitcoin futures as ‘real facts’ drive institutional interest.

Hold onto your virtual hats, folks! Bitcoin (BTC) is about to experience a tsunami of institutional inflows in the lead-up to the long-awaited approval of a United States exchange-traded fund (ETF). Get ready for a crypto revolution that will leave traditional investors scrambling to catch the wave!

Dan Tapiero, the founder and CEO of 10T Holdings, has joined the bullish camp, anticipating a seismic shift in institutional adoption of Bitcoin. This is no mere speculation; it’s happening right before our eyes. As BTC/USD hits 18-month highs, the institutional tides are already turning. The open interest on CME Group’s Bitcoin futures markets, a classic institutional venue for BTC derivatives, has surpassed that of Binance for the first time.

And Tapiero sees this as a watershed moment. In his own memorable words, “Now begins the renewed drumbeat of ‘institutional adoption’ of Bitcoin.” The abundant availability of real facts is driving this idea, leaving behind the mere hope that once characterized this industry. The torrent of capital from the traditional world is about to collide head-on with Bitcoin, delivering an explosive surge of investment. Brace yourselves, my friends!

The aggregate Bitcoin futures open interest crossed the $17 billion mark on November 9, reaching seven-month highs. Though it has slightly dipped to $15.5 billion at the time of writing, according to CoinGlass data, the optimism surrounding the ETF approval remains rock solid.

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But wait, there’s more! It might not be just a Bitcoin ETF that’s in the pipeline. QCP Capital, a trading firm, highlighted the potential for an Ethereum (ETH) spot ETF in its market update. While the approval for a spot BTC ETF might be delayed until January 2024, the anticipation of a spot ETH ETF is enough to fuel our animal spirits and send crypto prices skyrocketing towards the end of the year. It’s like we’re adding rocket fuel to an already soaring spaceship!

But not everything in the crypto universe is all rainbows and unicorns. Within this bullish landscape, QCP sounds a note of caution. They point to a series of lower highs on Bitcoin’s daily relative strength index (RSI) values, signaling a possible cooling-off period. Picture a race car running out of gas just before it reaches the finish line. Caution should be the name of the game.

Don’t get me wrong; the macro picture is looking brighter by the day, and crypto prices are set to thrive as rate pause expectations take hold. FOMO (Fear Of Missing Out) traders will eagerly jump on the bandwagon, ensuring that any dips will be quickly bought up. But we need to proceed with caution. BTC is currently dancing on crucial resistance levels, and a triple bear divergence with the RSI could signify a momentary halt in momentum. It’s like trying to navigate through traffic without a working GPS; proceed carefully!

At the time of writing, BTC/USD is trading near $36,500, while ETH/USD has soared over 4% to surpass the $2,000 mark. The crypto rollercoaster is full steam ahead!

So, fellow investors, strap on your helmets, fasten your seatbelts, and get ready for the upcoming crypto storm. This is the moment we’ve been waiting for, filled with both excitement and caution. As the saying goes, “Fortune favors the bold.” Let’s ride this epic wave together and reap the rewards that await us.

Are you prepared for the rising tide of institutional investment in Bitcoin? Share your thoughts and join the conversation below!

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