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Case for Bitcoin Bottom Near $40K Is Weak as Institutions Stay Away

One observer said traders may be better off trading bitcoin volatility than taking directional bets.

Chart showing a decline in bitcoin held by the U.S. and Canadian funds and Canadian and European ETFs and ETPs. (ByteTree)
Chart showing a decline in bitcoin held by the U.S. and Canadian funds and Canadian and European ETFs and ETPs. (ByteTree)