The lack of a decisive catalyst and the strength in the United States Dollar Index (DXY) has kept the recovery of risky assets under check. Bitcoin (BTC) remains stuck inside a tight range, searching for that elusive breakout. The longer the time Bitcoin spends inside the range, the greater will be the eventual breakout from it.
The short-term uncertainty in cryptocurrencies does not seem to have altered the long-term view of institutional investors. BNY Mellon (NYSE:BK) CEO Robin Vince said that a survey commissioned by the bank showed that 91% of institutional investors were keen to invest in some type of tokenized assets in the next few years.