If bullish momentum overpowers selling pressure from the bears, Bitcoin price could shatter the resistance at $66,754.Ī candlestick close above this level on the one-minute time frame would confirm the continuation of the uptrend. This could see Bitcoin price reclaim the $73,777 peak before recording a new ATH. Should Bitcoin price pull back, the buyer congestion level around $66,500 would counter the selling pressure. The bears on the other hand are heavily positioned around $66,754, marked by the grey volume spikes in the chart. we're a little bit ahead of schedule.” Technical analysis: Bitcoin price shows strength as bulls defend $66,500īased on the one-minute time frame for the BTC/USDT trading pair, the volume profile indicator shows that many bulls are defending the $66,500 level, marked by large yellow volume spikes to show where the buyers find congestion.

In his words, “This is the first time we've actually seen an all-time high before the halving. Kelly’s remarks came as he discussed the effect of the halving in conjunction with the ETFs.Įlsewhere, Kraken CEO Dave Ripley says the market is a bit ahead of schedule after Bitcoin price recorded a new all-time high of $73,777 ATH before the halving. You have a lot of pent-up demand with Morgan Stanley and UBS yet to come online with a supply that's been cut - that's the bullish case for Bitcoin. This could start slowly then intensify as happened in the case for ETFs. It is likely that other asset managers will follow Morgan Stanley’s lead and look to add Bitcoin exposure to their funds. This was in readiness for the anticipated approval of Bitcoin ETFs for its network of advisors to sell to clients. With a massive $1.5 trillion in management, their move makes waves and will spark more and more interest.Īs part of the commitment to driving more exposure, the bank, boasting up to $1.5 trillion in assets under management (AUM), had sent compliance and education materials out to all advisors three weeks ago. Morgan Stanley is seeking Bitcoin ETF exposure for twelve of its funds. LATEST: Morgan Stanley filed a prospectus to add #Bitcoin exposure in 2 of their funds. It comes after the financial services company filed for Bitcoin ETF exposure in twelve other funds earlier in the month. While Kraken leaves a lot to ponder about following the halving, reports show that Morgan Stanley wants to add exposure for BTC exchange-traded funds (ETFs) in two of its funds.Īlso Read: Bitcoin price rises past $66K as markets record falling BTC transaction fees Daily digest market movers: Morgan Stanley could have up to 14 funds with Bitcoin ETF exposureĪmerican multinational investment bank Morgan Stanley filed a prospectus to add BTC exposure in two of their funds, the Discovery and Growth Portfolios. On the one-minute time frame, $66,500 and $66,754 are crucial buyer and seller congestion levels, respectively, on volume profile metrics.īitcoin (BTC) price remains range-bound, holding above the $63,000 level, while its upside is capped below $68,000, going against or delaying the assumption that the fourth halving would be a 'sell-the-news' outcome.Kraken CEO Dave Ripley said the market is a bit ahead of schedule after $73,777 ATH pre-halving.Morgan Stanley has filed prospectus to add BTC exposure in two of their funds.

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