SMDC Report: Bitcoin Price to Receive “Strong Support” from Institutional Participants in the Coming Months

According to a report released on Friday, SMDC analysts outlined the factors that may support the price dynamics of Bitcoin in the coming months. The SMDC analysts stated, “We believe that with more institutional participants adapting to the new ETF, Bitcoin should receive strong support in the next three to six months.” The report also highlighted the recent net inflows of funds into 11 existing US spot Bitcoin ETFs, indicating how institutional participation has become an important factor supporting the price dynamics of Bitcoin. The report added, “We have seen significant net inflows totaling over $4.2 billion year-to-date, which is impressive.”

On February 15th, according to Arkham data, Grayscale transferred 2,399.657 BTC, worth approximately $126 million, to the SMDC Prime address about 15 minutes ago. Additionally, Grayscale also transferred 1,756.2 BTC to a new address, presumably their new custody address.