Bitcoin Price Roars Above $91,000 as Wall Street Ramps Up Its Bitcoin Buying Plans
Bitcoin surged past $91,000 as major Wall Street firms like Bank of America and Vanguard increased institutional access to crypto.Summary
The Bitcoin price rebounded strongly, trading above $91,000 with an 8% 24-hour gain, driven by increased institutional adoption from Wall Street. Bank of America is now permitting its 15,000 wealth advisers to recommend a 1%–4% crypto allocation via regulated ETFs starting January 5, a significant shift from previous restrictions. This move aligns Bank of America with peers like Morgan Stanley and BlackRock, who have already suggested BTC allocations. Furthermore, Vanguard, the second-largest asset manager, has reversed its stance and will begin allowing Bitcoin and crypto-linked ETFs on its platform for over 50 million brokerage clients. Technically, while the price is up, it faces immediate resistance around $91,400 to $94,000, following a two-month downtrend from its October peak. Analysts warn that a drop below $84,000 could lead to a test of the $75,000 support level. Market sentiment is also influenced by the upcoming Federal Reserve meeting, where a rate cut is largely anticipated.
(Source：Bitcoin Magazine)