Bitcoin has fallen below the $100,000 mark for the third time since June, prompting significant institutional activity. Fidelity has purchased $62 million worth of Bitcoin, while whales have accumulated 30,000 BTC valued at $3 billion. Despite the dip, JP Morgan maintains a price target of $170,000 for Bitcoin. In other developments, Ethereum saw substantial movements with Tom Lee's Bitmine acquiring 40,718 ETH for $137 million, and BlackRock transferring 34,777 ETH worth $115 million to Coinbase Prime. Ethereum ETFs experienced outflows of $341 million. Meanwhile, Solana continues to dominate with a 34% market share among USDC senders, and ZCash reached a new eight-year high at $580. Coinbase has launched prediction markets and announced a Bitcoin credit card offering 4% rewards. Additionally, the CEO of Coinbase revealed that a new crypto market structure law is nearing approval, potentially impacting the regulatory landscape.
Bitcoin Dips Below $100,000 as Institutions Accumulate
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