Bitcoin Surges 4%, But Institutional Backing Remains Questionable

Bitcoin experienced a surge of over 4% in price, breaking past the $90,000 mark within just 24 hours. This impressive climb outperformed major US stock indices, attracting attention from both retail and institutional investors. While short-term momentum is strong, analysts are cautious about the long-term sustainability of this rally. This skepticism stems partly from a lack of substantial buying activity from institutions such as hedge funds, pension funds, and asset managers, who often play a critical role in driving sustained price increases.