What a time to be alive. We are seeing big institutions rushing to get involved in bitcoin basically because of the fear of missing out(FOMO). These asset management companies like Blackrock whose job is to make money for their investors. Also the news about a crypto exchange being supported by big financial institutions - Backed by Fidelity, Schwab and Citadel. It is a positive news for the market. It is obvious that these financial institutions with deep pockets are now bullish with bitcoin. Therefore there is positive sentiment which comes as no surprise to see bitcoin increase by 20% in the last 7 days. Another positive sentiment is the news of WisdomTree, Invesco, Valkyrie applying for a Bitcoin ETF. We are waiting to see more bigger institution join in. FOMO is real for them.

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https://www.coindesk.com/business/2023/06/20/new-crypto-exchange-backed-by-fidelity-schwab-and-citadel-launches/

https://decrypt.co/145566/wisdomtree-invesco-follow-blackrock-with-spot-bitcoin-etf-applications

https://cointelegraph.com/news/valkyrie-submits-btc-spot-etf-application-to-go-with-its-futures-miners-etfs#:~:text=Valkyrie%20filed%20an%20S%2D1,Bitcoin%20(BTC)%20futures%20ETFs.