Bank of America Introduces Bitcoin Coverage, Suggests Up to 4% Allocation in Cryptocurrency
Bank of America's New Crypto Policy: Bank of America has begun recommending a 1% to 4% cryptocurrency allocation for its wealth management clients and will start covering multiple Bitcoin ETFs from January 5, marking a significant policy shift after years of restrictions on advisers recommending digital assets.
Industry Trends in Crypto Allocation: The bank's recommendation aligns with other major financial institutions like Morgan Stanley, BlackRock, and Fidelity, which have also suggested similar cryptocurrency allocation ranges, reflecting a broader industry trend towards regulated exposure to digital assets.
Regulatory Environment and Demand: The expansion of crypto access among major banks coincides with a deregulatory push from the Trump administration, which has increased demand for regulated digital asset exposure among advisers and clients, despite ongoing regulatory uncertainties.
Bitcoin Market Dynamics: Despite a recent decline in Bitcoin's price, long-term institutional forecasts remain optimistic, with projections suggesting significant upside potential, while recent positive net inflows indicate renewed interest and capital entering the Bitcoin market.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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