Bitcoin Price Prediction: Cantor’s New Gold-Insured BTC Product Could Attract Billions

Bitcoin (BTC) is trading near $105,310 on Friday, struggling to bounce back from a 3% weekly drop after profit-taking at a three-month high. But a game-changer from Cantor Fitzgerald may shift sentiment. A gold-backed Bitcoin fund is being launched, combining Bitcoin’s upside with gold’s stability for risk-averse investors and potentially increasing demand for BTC.

Cantor’s CEO, Brandon Lutnick, explained that the firm will achieve full participation in Bitcoin’s gains, with physical gold holdings to cushion against price drops. As gold is up 25% year-to-date, this may attract investors who have been hesitant to invest in crypto due to its volatility.

Bitcoin Fund With Gold Shield Launches

Cantor Fitzgerald unveils a no-cap Bitcoin fund with built-in gold hedging, offering institutional investors inflation protection plus BTC upside.

https://t.co/2ZabTPYL8h

Cantor Fitzgerald has a long history in the crypto space, including managing Tether’s reserves, so this is a credible move.

• Gold-backed protection with whole Bitcoin upside
• Crypto innovation with safe-haven assets
• Cantor’s strategy targets institutional investors

The fund is launching soon and represents a new way for traditional investors to access crypto without the usual volatility. It’s coming at a time when crypto funds are surging and is a solution for diversification.

While retail investors remain hesitant, institutions are fully committed to Bitcoin. This week alone, Strategy added 4,020 BTC worth $427 million, bringing their total to 580,250 BTC. GameStop bought 4,710 BTC after raising $1.3 billion in convertible notes and diversified its corporate treasury.

Strategy has acquired 4,020 Bitcoin for $427.1 million dollars and now holds a total of 580,250 BTC.

MICHAEL SAYLOR STOPS FOR NO ONE pic.twitter.com/VkC1aW3GLT

Japanese firm Metaplanet announced a $21 million bond dedicated to buying Bitcoin and increased their holdings to 7,800 BTC. These strategic purchases demonstrate strong confidence in Bitcoin’s long-term future, despite short-term price fluctuations.

Meanwhile, US spot Bitcoin ETFs saw $458.82 million in inflows this week and $5.85 billion in May inflows, the highest since last December and surpassing even the post-US election levels. This is Bitcoin becoming a core asset in portfolios.

• $458.82 million ETF inflows show growing demand
• Corporate treasuries are increasing BTC allocations
• Institutional adoption is long-term confidence

Technically, the BTC/USD pair is in a descending channel, and selling pressure remains persistent. Price is below the 50-period EMA ($107,531) and key support is at $104,683, with further downside targets at $103,395 and $102,168.

Momentum indicators are cautionary, the MACD histogram is fading, and the RSI is below neutral.

However, long lower wicks at support suggest buyer defense, but there is no follow-through. A break above $107,531, accompanied by bullish engulfing candles or three white soldiers, could lead to $108,221-$109,589. A break below $104,683 with a shooting star or three black crows could be $103,395 or lower.

• BTC/USD testing key support at $105,000
• Descending channel signals an ongoing bearish bias
• Momentum indicators flashing mixed signals

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