Bitcoin down as Morgan Stanley and Genesis Trading make major market moves

Morgan Stanley has begun informing its financial advisors of a move for clients to begin purchasing Bitcoin ETFs. Genesis Trading moved over $1.5 billion to several addresses as it's suspected to have begun creditors' repayments. BTC is down to $61K, with Santiment data suggesting this may be a buying opportunity. Bitcoin is down to $61,000 on Friday as Morgan Stanley has been speaking with its wealth advisors and will soon allow them to offer Bitcoin ETFs to certain clients.

5 billion in Bitcoin and Ethereum. The wallet activity involved the transfer of 16.6K BTC worth $1.1 billion and 166K ETH worth $521 million to several addresses on Friday, according to Arkham Intelligence data. Many crypto community members speculated that this significant movement of funds could be linked to efforts to repay creditors in the aftermath of the 2022 market downturn, which resulted in the company's bankruptcy.

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