Bitcoin recorded an ATH near $93,500 and is currently consolidating above $91,000. The weak price under low trading volume suggests that a strengthening boost will soon occur. Blackrock increased its BTC holdings to 472K after launching Bitcoin ETF, with expected options to be released in the next 24 hours, significantly affecting BTC’s price increase.
BTC Price Prediction: Many experts predict that BTC’s price will reach $100,000 in November.
Current Situation: Despite increased selling pressure, purchasing power has not been significantly affected.
Concerns on Decentralization: The involvement of large financial institutions may make Bitcoin less decentralized, posing a risk of market manipulation and liquidation of hundreds of billions USD. The launch of Bitcoin ETF may reshape the market but also involves new risks for investors.