Bitcoin Awaits Institutional Demand for Next Leg Higher, Oanda Says – CoinDesk

Bitcoin’s intraday rally follows a near 36% rise over the past month as traders look to institutional demand to fuel further upside.

Bitcoin (BTC) is drifted higher, changing hands around $59,000, as buyers awaited the next wave of institutional demand, according to Edward Moya, senior market analyst at Oanda, a foreign exchange broker.

The largest cryptocurrency by market cap has risen by about 36% over the past month. Oanda’s Moya told CoinDesk in an interview that the bullish sentiment stemmed at least partly fueled by excitement over the much-anticipated public stock listing of the cryptocurrency exchange Coinbase.

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