Key facts: Bitcoin tests $107,000 support; 150 firms adopt cryptocurrency; SEC approves Bitcoin ETPs
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- Bitcoin faces resistance at $111,000, pausing its rise. It is now testing the crucial $107,000 support level, with a potential breakdown leading to increased selling pressure.1
- Over 150 public companies are allocating portions of their treasuries to Bitcoin as a store of value, reflecting a growing trend in institutional adoption of the cryptocurrency.2
- In January 2024, the SEC approved rule changes allowing exchanges to list and trade spot Bitcoin ETPs, making Bitcoin accessible on major platforms like NYSE and Nasdaq.3