Bitcoin Quietly Reaches a Huge Milestone
The United States's oldest bank -- Bank of New York MellonCorp. -- announced last week that it will hold, transfer, and issue bitcoin and other cryptocurrencies on behalf of its asset management clients. This announcement marks a huge milestone for bitcoin, pushing it into the Wall Street mainstream.
Prior to this announcement, many readers know that buying cryptocurrency meant working with a non-traditional custodian, like Coinbase. For giant custodians like BNY Mellon and Fidelity, this meant have some client assets custodied elsewhere. With an increasing number of institutional and retail investors flocking to bitcoin and other cryptocurrencies, it made sense for BNY Mellon to step-in and try to take some market share.
The move to have bitcoin and select other cryptocurrencies custodied at BNY Mellon means developing a new platform, which is currently in beta. Otherwise, the digital assets would pass through the same 'plumbing,' and have the same security and insurance, as traditional holdings like stocks and U.S. Treasuries.
Cryptocurrencies by their very nature are hardly eager to enter the mainstream -- after all, they were invented as a means to circumvent archaic and outdated systems of fiat currencies and traditional contracts. However, with announcement's like BNY Mellon's, bitcoin and other cryptos take a step closer to becoming widely accepted as legitimate, which is a key step to longevity and ultimately, higher prices.
BTC.X in +3.74% Uptrend, advancing for three consecutive days on July 03, 2025
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where BTC.X advanced for three days, in of 441 cases, the price rose further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on June 24, 2025. You may want to consider a long position or call options on BTC.X as a result. In of 140 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for BTC.X just turned positive on June 26, 2025. Looking at past instances where BTC.X's MACD turned positive, the stock continued to rise in of 63 cases over the following month. The odds of a continued upward trend are .
BTC.X moved above its 50-day moving average on July 02, 2025 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for BTC.X crossed bullishly above the 50-day moving average on July 01, 2025. This indicates that the trend has shifted higher and could be considered a buy signal. In of 19 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 93 cases where BTC.X's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BTC.X broke above its upper Bollinger Band on June 09, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for BTC.X entered a downward trend on June 29, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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