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Bitcoin rally driven more by institutional demand than speculation
As bitcoin hit a record high on Monday, evidence from institutional flows and derivatives suggested its rally might be more stable and lasting than previous speculative runs. Bitcoin crossed $120,000 for the first time on optimism over upcoming U.S. House discussions on digital asset regulation, extending its gains this year to about 30 per cent. The rise has been fuelled by strong flows into bitcoin exchange-traded funds (ETFs) and rising corporate treasury allocations. Analysts said bitcoin's surge is driven this time by institutional flows and reflects its evolution into a more stable asset, sought after as ... (full story)