Bitcoin (BTC) recently surged past the $110,000 mark, supported by growing institutional backing and the launch of spot Bitcoin ETFs. This comes in after a week of volatility that has seen BTC go below support levels.

However, despite the bullish momentum, Tom Lee, chairman of BitMine, warns the flagship cryptocurrency could still endure a dramatic correction of up to 50%.

Institutional Support Supports the Rise

Bitcoin’s latest climb toward the $110,000-plus range is triggered by a significant uptick in institutional interest. Products such as the IBIT (iShares Bitcoin Trust) offer investors easier exposure to Bitcoin via traditional brokerage platforms.

Additionally, broader regulatory clarity has enabled major banks and asset managers to deepen their crypto strategies. This shift

See Full Page