- This price increase came after the announcement that the Japanese banking giant Nomura’s crypto subsidiary would launch a new adoption fund for institutional investors.
- Popular crypto analyst Michael van de Poppe stated that the BTC price is holding well above the $26,700 support level.
- Some market analysts believe that investors may have one last opportunity to fill their bags before the long-term bull run continues.
BTC price rises above $27,000 as Nomura launches fund for Bitcoin adoption: Is another correction possible?
Bitcoin Price Rises with Nomura’s Move
The world’s largest cryptocurrency, Bitcoin (BTC), rose again by 1.44%, surpassing $27,200. This price increase came after the announcement that the Japanese banking giant Nomura’s crypto subsidiary would launch a new adoption fund for institutional investors.
Following Nomura, one of the world’s largest investment banks, announcing the launch of a customized Adoption Fund for institutional investors, Bitcoin surged to levels above $27,200. This development represents the latest effort to expand the use and participation in the crypto space beyond traditional traders.
Popular crypto analyst Michael van de Poppe stated that the BTC price is holding well above the $26,700 support level. He also added that it could continue its upward movement by forming a new range.
This is typically a period during a bull run when increased on-chain activity takes center stage. This phenomenon occurs when the monthly average of newly created wallets (depicted in red) surpasses the yearly average (depicted in blue). Popular crypto analyst Ali Martinez noted that this event signals strong network fundamentals and an increase in Bitcoin usage.
Investors May Have One Last Opportunity!
Some market analysts believe that investors may have one last opportunity to fill their bags before the long-term bull run continues. Popular crypto analyst Rekt Capital wrote:
“Remember – Bitcoin is in the early stages of a Bull Market. The long-term outlook is positive. What about the medium term? Over the next 7 months, we may or may not see one last major correction. Will it happen? If it does, it would be wise to be prepared at least.”
Rekt Capital also added that there is a possibility of Bitcoin reaching $29,000 before its next downward move.
