Bitcoin's Price Floor Set at $60K Amidst Institutional Adoption

K33 Research, the research arm of K33 digital asset brokerage company, has published a report suggesting that Bitcoin's price floor is $60,000. The firm cites data from various sources, including CryptoQuant's Bitcoin Fund Holdings Chart, to support its argument.

The chart shows steady growth in institutional investment in Bitcoin since 2024, with the cryptocurrency's holdings increasing significantly among institutions. This trend suggests that institutional investors are confident in the long-term prospects of Bitcoin and are willing to hold onto it even during periods of market volatility.

According to Ventle Lunde, head of research at K33 Research, these conditions make a significant price drop like the one witnessed in 2018 and 2022 highly unlikely. Instead, Bitcoin is likely to consolidate between $60,000 and $75,000 without dropping below this level.