BTC (Bitcoin) fell 1.03% in the last 24 hours.

Gate News Bot news, on October 29, according to CoinMarketCap data, as of the time of this report, BTC (Bitcoin) is currently priced at $112,800, down 1.03% in the last 24 hours, with a high of $116,300 and a low of $106,800, and the 24-hour volume reached $64.812 billion. The current market capitalization is approximately $2.25 trillion, a decrease of $23.458 billion compared to yesterday.

Bitcoin is an innovative payment network and a new type of currency. Bitcoin operates using peer-to-peer technology, without the need for a central authority or bank; transaction management and the issuance of Bitcoin are collectively handled by the network. Bitcoin is open source; its design is public, and no one owns or controls Bitcoin, allowing anyone to participate. Through its many unique properties, Bitcoin enables exciting use cases that were previously unattainable by any payment system.

Important recent news about BTC:

1️⃣ Institutional investors continue to increase their holdings in Bitcoin Several institutional investors have recently increased their allocation to Bitcoin. ZOOZ Strategy Ltd. purchased an additional 94 Bitcoins at an average price of $112,000 each, bringing its total holdings to 1,036 Bitcoins. Universal Digital plans to raise $50 million through convertible debt to increase its Bitcoin holdings. Strive also announced the purchase of an additional 72 Bitcoins at an average acquisition price of approximately $114,304 each. These actions reflect the growing confidence of institutional investors in the long-term value of Bitcoin.

2️⃣ Bitcoin ETF market continues to attract inflows On October 28, ten Bitcoin ETFs recorded a net inflow of 1,458 BTC (approximately $167.4 million). Among them, BlackRock's Bitcoin ETF attracted an inflow of 567 BTC (approximately $65.15 million), bringing its total holdings to 805,807 BTC (approximately $92.51 billion). This indicates that institutional investors are continuously increasing their allocation to Bitcoin through ETF products, providing stable financial support to the market.

3️⃣ France proposes to establish Europe's first strategic Bitcoin reserve France has proposed a groundbreaking bill to acquire 2% of the total supply of Bitcoin, creating Europe's first strategic reserve. It is expected to acquire 420,000 BTC within 7-8 years. If implemented, this proposal would mark a significant recognition of Bitcoin by a sovereign nation and could prompt more countries to follow suit, further accelerating the mainstream adoption of Bitcoin.

From a technical perspective, Bitcoin is currently in a range-bound state, with short-term support around $113,500. The market sentiment index remains at a neutral level, indicating a relatively balanced investor sentiment. With institutions continuing to accumulate and potential national-level purchasing plans providing support, the medium-term outlook for Bitcoin remains optimistic, although it may face some pullback pressure in the short term.

This message is not intended as investment advice; investors should be aware of market volatility risks.