- Bitcoin has rebounded from April lows of $75,000 to approach $100,000, supported by renewed ETF inflows.
- Major Wall Street firms managing around $10 trillion are expected to allow access to bitcoin ETFs by year-end.
- Analysts remain bullish on Bitcoin despite potential short-term corrections to the $83,000-$86,000 range.
Bitcoin has surged toward the $100,000 mark, recovering significantly from April lows of approximately $75,000. The cryptocurrency’s price recovery comes amid renewed inflows to bitcoin ETFs and what BlackRock has described as an approaching "geopolitical fragmentation megaforce" shock. The rebound has been partially attributed to the Federal Reserve’s quiet actions that have supported the Bitcoin Price and broader crypto market.
The cryptocurrency received a boost as bitcoin ETFs attracted more than $3 billion in inflows last week, according to data from SoSoValue. This marks a notable reversal after a period of outflows that had coincided with stock market volatility. These major ETFs have accumulated more than $100 billion in total assets under management since their launch last year.
Wall Street Giants Poised to Enter Bitcoin Market
Bitwise chief investment officer Matt Hougan predicts that major financial institutions controlling approximately $10 trillion in client assets will soon provide broader access to bitcoin ETFs. In a note, Hougan stated, "The big four wirehouses—Merrill Lynch, Morgan Stanley, Wells Fargo and UBS—control over $10 trillion in client assets, and by and large, these platforms have not yet allowed their advisors to easily access bitcoin ETFs." He added, "I suspect all four wirehouses will be open for business on bitcoin ETFs by the end of the year."
Currently, these bitcoin ETFs have limited access to the networks of financial advisors at major institutions. Morgan Stanley did begin allowing advisors to offer BlackRock and Fidelity’s bitcoin ETFs to wealthy clients with net worth exceeding $1.5 million last August, but Hougan anticipates broader market access in 2025.
Market Sentiment and Price Outlook
Despite the strong recovery, analysts caution that Bitcoin might face short-term pullbacks. Arthur Azizov, founder of B2 Ventures, noted in emailed comments: "The overall outlook for bitcoin remains bullish. Right now, bitcoin is pushing toward a new all-time high, but we shouldn’t rule out minor pullbacks as part of a healthy correction. At this stage, bitcoin is in a key zone, having just swept liquidity at the top. That makes a short-term correction quite likely. If that happens, it would make sense to expect a retracement into the $86,000–$83,000 range."
David Morrison, senior market analyst at Trade Nation, observed via email that "Bitcoin continues to outperform" and that "Bitcoin’s recent price action may serve as a broader sentiment gauge for risk assets." The cryptocurrency is currently consolidating around $95,000, putting the psychological $100,000 level within reach.
The renewed optimism comes amid reports of "growing establishment fears" over U.S. president Donald Trump‘s cryptocurrency plans, adding another layer of intrigue to Bitcoin’s ongoing price journey.
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