Bitcoin Shows Bullish Trends Amid Institutional Buying

Bitcoin has recently surpassed its 7-day and 30-day moving averages, indicating a bullish trend in the short to medium term, according to ChainCatcher. Markus Thielen, founder of 10x Research, noted on the X platform that Bitcoin's price increased by 1.1% over the past week. This rise is supported by continued institutional buying and large corporations adding Bitcoin to their treasuries, boosting market confidence. However, the market experienced a brief consolidation due to the historical pattern of selling on positive news. Thielen also highlighted that with Bitcoin's dominance remaining above 60%, some altcoins are quietly bottoming out, driven by fundamental catalysts. Privacy coins and projects related to Real World Asset (RWA) infrastructure are particularly noteworthy. Additionally, market sentiment is further bolstered by hints from a White House advisor about an upcoming announcement regarding national strategic reserves.