Morgan Stanley’s Bitcoin trust continued to increase its holdings of Bitcoin this month, purchasing a total of approximately $62.2 million. Watcher.Guru stated that this buying activity is one of the important reasons why BTC has been maintained around $77,000.

Continue to increase positions

In the past 20 days, this trust has made purchases of BTC on 11 trading days, with the most recent purchase occurring on September 11 for an amount of approximately 3.76 million US dollars. The article states that this round of purchases was relatively concentrated, and no capital outflows were observed during that period.

Position Size

Currently, the net assets of Morgan Stanley Bitcoin Trust are approximately 610.13 million US dollars. Reports mention that continuous inflow of institutional funds has helped Bitcoin remain within a range of 75,000 to 78,000 US dollars.

Market Focus

The article also mentions that the U.S. Clarity Act will be reviewed by the Senate on Tuesday, and the related amendments may affect fluctuations in the crypto market. The report also states that a decline in oil prices could provide support for the trend of Bitcoin.