Bitcoin News: Institutional Buying Paves Way for Potential New Bull Cycle; UAE Expands into U.S. Bitcoin Mining Market

Massive institutional purchases of BTC could spark the next bull cycle

Major institutions are quietly accumulating Bitcoin, signaling the potential for a significant market upswing. As vast amounts of capital flow into BTC, the groundwork may be laid for a new bull cycle. Amid this momentum, an altcoin stands out as an opportunity not to be missed. However, the specific altcoin mentioned in the article has not been detailed in this summary.

UAE’s Push Into U.S. Bitcoin Mining Expansion

The United Arab Emirates (UAE) has decided to invest $1.4 trillion in the United States over the next 10 years, with a focus on enhancing its presence in artificial intelligence (AI), energy, and the digital assets space, specifically Bitcoin mining. These efforts will be directed toward developing extensive mining facilities within Georgia, which offers favorable energy policies, construction capabilities, and clean power resources, including those from a recently built nuclear power facility. Bitcoin mining firms find Georgia increasingly favorable due to its strong energy advantages and established technological infrastructure.

Is SpacePay the Next Crypto to Explode? Insights into Its Ongoing Presale

The crypto market is a wild ride. New projects pop up daily, but most fade away quickly. SpacePay, a payment platform that charges merchants just 0.5% and works with over 325 crypto wallets, converting crypto to cash instantly for store owners, has been drawing attention lately. The platform has collected $1 million during its presale, with $SPY tokens currently priced at $0.003153 each.

Bitcoin Nears $83K Support—Mass Liquidations or Whale-Driven Bounce?

Bitcoin faces resistance at $89K while liquidation risks loom at $83K, increasing market volatility. On March 28, Bitcoin’s price continued its downward trajectory, marking a fourth consecutive day of losses and plunging to an intra-day low of $83K. The broader market sell-off is fueled by inflation fears after the CORE Personal Consumption Expenditures index for February surpassed projections. Whale wallets reversed their distribution trend, signaling renewed accumulation. Despite market uncertainty, institutional interest in Bitcoin remains high, as evidenced by The Blockchain Group’s acquisition of 580 BTC for €47.3M.

Bitcoin Price Slips Below $84K, Possible Drop to $70K Warned

Bitcoin’s price traded below $84,000 on March 29, experiencing a sharp decline of 3.1% to $83,696. Technical analysts, including veteran trader Peter Brandt, are warning of further downside, with Brandt suggesting that a drop below $70,000 would not be unreasonable. The decline follows the formation of a rising wedge, a bearish reversal setup, and a break-and-retest of the $89,000 neckline from Bitcoin’s double-top at $108,675, adding weight to a bearish bias.