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Bitcoin reaches 106,000 USD fueled by institutional purchases of 40,000 BTC

Strong institutional demand for Bitcoin: In the past three weeks, Bitcoin reserves on OTC desks dropped by 40,000 BTC. This reflects growing institutional interest, with 80,000 BTC demand seen over a month, contributing to Bitcoin’s recent price surge.

Market dynamics favor Bitcoin price rise: With OTC reserves now below 240,000 BTC and significant withdrawals recorded, the supply-demand balance is shifting. Analysts predict sustained price growth for Bitcoin as institutional buying continues and confidence in its value strengthens.

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