Bitcoin institutional investors go on a 100,000 BTC buying spree amid BTC price lows.
Bitcoin institutional investors are not only buying, but doing so with more conviction than when BTC/USD traded near all-time highs.
These entities, who reflect the institutional side of the Bitcoin investor base, have upped their exposure at a rapid pace since the start of June. Since then, BTC/USD has fallen by up to 23%. “While many novice investors capitulated last week, with special emphasis on coins purchased between 1 and 3 months ago, institutional players made the largest accumulation process since March,” Oliveira summarized.during the height of the inflows
“This means that, unlike what was seen in March, which was a demand more linked to fundraising, the current institutional accumulation may indicate a true process of ‘buying the dip’ in large players,” Oliveira concluded.
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