Investors are beginning to worry that Bitcoin’s (BTC) uptrend could be in peril after the top-ranked cryptocurrency failed to pull above the $40,000. Some traders are afraid that a repeat of the crushing 2018 bear market is on the cards again if BTC fails to find bullish momentum. However, a study of both the bull markets shows distinct differences that are noteworthy. Research from Pantera Capital found that after the current bull move, 86% of the crypto market's value is concentrated in Bitcoin and Ethereum, largely because institutional funds have flowed into each cryptocurrency. In 2017, the top two coins …
Grayscale products witnessed $3.3 billion in inflows in the fourth quarter of 2020, a large jump over the $1.05 billion seen in the preceding quarter. According to Grayscale, institutional investors accounted for 93% of the new investments. The significance and magnitude of the investments can be gauged from the fact that in 20, Grayscale received $5.7 billion in investments, which is four times the cumulative inflow between 2013 and 2019 Data from Glassnode also shows that since July 2020, only about one-third of the 900 Bitcoin (BTC) mined each day have made their way to exchanges. During that period, Grayscale …
The top 100 richest Bitcoin (BTC) addresses have added 334,000 Bitcoin to their existing holdings over the past 30 days, a clear signal that whales and institutional-size investors bought the dip. A positive sign is that most of them have not reacted to the recent fall in Bitcoin’s price. This suggests that large investors are bullish on Bitcoin for the long term rather than looking to make a quick gain. An important element in the recent rally is many of the purchases have come from institutional investors who were critical of Bitcoin in the past. The list is likely to …
After an incredible run-up to nearly $42,000, Bitcoin (BTC) price finally entered a significant correction, and at the time of writing the price is down by about 18%. While the swift drop to $30,402 may not induce sleepless nights from the HODLer crowd, large drops like the one seen over the past 24-hours can easily blow up a leveraged trader's portfolio. The sharp downside move also threatens to wipe out a large portion of the gains accrued over the past few weeks. Data from Bybt indicates that over $2.7 billion worth of futures contracts has been squared off in the …
Bitcoin (BTC) again rose to a new all-time high on Friday as bulls continued to buy on every minor dip. As the price reached a new high, Bitcoin’s market capitalization soared above $775 billion, taking it past Facebook’s market cap, according to the website Companies Market Cap. This means, there are only six companies in the world that currently have a greater market cap than Bitcoin. The pace of the rally seems to have caught several traders off guard. Popular analyst flibflib told Cointelegraph that the sustained rise points to “accumulation algorithms and that accumulation algorithms seldom care about the …
Aggressive buying by institutional investors is one of the main reasons for the current Bitcoin (BTC) bull run. Some investors expressed their intent to hold their positions for a few years, but it is also prudent to note that many of these investors have recently developed a love for Bitcoin and their conviction to HODL may not resemble that of the early Bitcoin whales. The current bull market could also differ from the last as institutional investors simply cannot hold on to their positions if Bitcoin unexpectedly enters a sharp correction. These fund managers will have to face angry clients …
Bitcoin (BTC) price plunged by about $3,400 in an hour, warning traders that corrections during a parabolic move are likely to be sharp. Data from Glassnode shows that the fall resulted in the liquidation of Bitcoin futures long positions worth about $190 million on Binance within an hour, the largest to date. In a strong uptrend, corrections are swift but short-lived because investors who expect the rally to continue use the dips to buy. Binance US CEO Catherine Coley believes the Bitcoin could climb to “$75,000 to $100,000” by the end of this year. Meanwhile, investor Raoul Paul is even …
Bitcoin (BTC) has consistently been hitting new all-time highs over the weekend, but the latest surge has also created a new high against gold, according to MarketWatch data. This suggests that Bitcoin has been gaining acceptance as the new store of value and that may attract more customers away from gold into Bitcoin. Analysts suggest that the latest rally above $30,000 could have been triggered by aggressive buying from institutional investors on Coinbase, as suggested by the large premium of about $350 compared to the price in Binance. With the latest rally, Bitcoin hit a market capitalization of over $640 …
Bitcoin (BTC) rallied from an intraday low at $17,573.29 on Dec. 11 to an intraday high at $29,310.19 on Dec. 31, a 66.78% rally in a short span. This shows strong demand from traders at every higher level. Institutional crypto investment giant Grayscale bought 72,950 Bitcoin in December, which was 159.49% more than the 28,112 Bitcoin mined during that period, according to data from Coin98 Analytics. It is not only the institutions buying — a strong bull run also attracts speculators and momentum traders who try to piggyback on the up-move. This can be seen from the surge in Bitcoin’s …
On-chain data suggests that high-net-worth individuals continued to buy Bitcoin (BTC) after Christmas. Analysts at Santiment said that smaller traders sold about $647 million worth of Bitcoin and this sum may have been bought up by Bitcoin whales. Data also signals that large investors have been buying and holding their purchases throughout 2020, without booking profits in an aggressive manner. According to Glassnode analysts, this has caused the number of Bitcoin in circulation to decline by about 1 million. That means, out of the total available supply, 14.5 million Bitcoin are considered illiquid. Glassnode analysts say that this leaves only …
Several central banks have resorted to unprecedented monetary expansion and aggressive rate cuts to support their respective economies badgered by the coronavirus pandemic. Record liquidity has resulted in sharp rallies in the S&P 500, gold, and Bitcoin (BTC), which suggests that investors are plowing money into assets of their choice. While gold is way below its all-time high set in August, both the S&P 500 and Bitcoin are near their all-time high. The last five trading days of the year and the first two of the next year have historically been bullish for the S&P 500, dubbed as the "Santa …
The current crypto bull run has been spearheaded by Bitcoin (BTC). As the United States Securities and Exchange Commission has previously hinted that Bitcoin is not a security, the regulator’s current lawsuit against Ripple is unlikely to stop the institutional inflow of money into Bitcoin. However, a few altcoins that may be at risk of facing a similar fate as Ripple could face selling pressure. Due to a change in sentiment, retail investors may sell some of their altcoin holdings and shift to Bitcoin. Even retail investors who plan to spend their stimulus checks for buying crypto-assets may prefer Bitcoin …