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Bitcoin faces key resistance near $82,800, but I am bullish with a 12-month target of $95,000 and a stop-loss at $74,000. ETF inflows hit $3.52 billion in August, signaling institutional macro hedging, not long-term adoption, and creating a thin, volatile float. September catalysts (the CLARITY Act cloture vote and FOMC decision) will be pivotal; a clean break above resistance on volume could drive BTC toward $88,250–$90,000.
Bill Miller IV, chief investment officer and chairman at Miller Value Partners, joins 'Closing Bell' to discuss the causes in Bitcoin's recent uptick and more.
Bitcoin was rising Monday near the $80,000 level that it last touched in May, after the cryptocurrency surged last week on the Treasury Department's plans to buy back longer-dated Treasurys.
Bitcoin surges to fresh highs above $75,000, fueled by renewed debasement trades and Treasury buyback announcements. I reiterate buy ratings on Bitcoin, IBIT, and BTC, citing strong momentum, macro tailwinds, and technical support at $73,000. Implied volatility for IBIT has spiked to 40% ahead of key macro events, signaling heightened risk and opportunity.
Robert Mitchnick, head of digital assets at BlackRock, joins Isabelle Lee and Eric Balchunas on "Bloomberg ETF IQ." Hackers have stolen more than $130 million worth of Bitcoin from thousands of supposedly secure cold wallets in recent days.
Bitcoin has reclaimed several important technical levels, and improving momentum suggests the cryptocurrency could be setting up for another advance if key resistance is cleared.
Bitwise 10 Crypto Index ETF (NYSEARCA:BITW - Get Free Report) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 931 shares, a growth of 80.4% from the June 15th total of 516 shares. Based on an average trading volume of 54,549 shares, the
Spot or index ETFs are good ways for ordinary investors to add cryptocurrencies to their portfolios, and there are higher-end options for the wealthy.
SEC filings for BITW aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.