Bitcoin accumulation with wallets holding 100 to 1,000 BTC This may indicate that US institutional investors remain interested in Bitcoin.
“Institutional investor demand for Bitcoin remains strong,” CryptoQuant founder Ki Yong-joo said on Tuesday, adding that 577,000 Bitcoin (BTC) have been added to this cohort of wallets (which includes exchange-traded funds) over the past year and “are still seeing inflows.”
“Excluding exchanges and miners, this gives a rough read of institutional demand.”
big BTC Your wallet will continue to grow. sauce: cryptoquant
According to CryptoQuant, the growth rate over the past 24 months is about 33%, which is about the same as when the first spot Bitcoin ETF was launched.
The U.S. Spot Bitcoin ETF has seen a total of $1.2 billion in inflows so far this year, even as the underlying asset is up about 6%.
“Institutional investors have just started investing in Bitcoin and Ethereum. I think this is just the beginning. Most people can’t imagine 2030-2040,” political economist “Crypto Seth” responded.
DAT holdings surged 30% in 6 months
Part of the surge may also be due to digital asset bonds.
Cryptocurrency DAT led by Michael Saylor’s strategy raises $260,000 BTC Since July, it has been worth about $24 billion at current market prices.
This is a 30% increase over the past six months and exceeds the supply of miners, Glassnode reports. We currently have a total of over 1.1 million BTC.
Related: Bitcoin’s “internal state” is improving: Glassnode
Retail sentiment returns to fear
However, retail traders have become more reluctant towards cryptocurrencies in recent months.
The Bitcoin Fear and Greed Index, which measures retail market sentiment, has reverted to “fear” this week, with a score of 32 out of 100 as of Tuesday. This comes after it briefly turned “greedy” for the first time since October last week.
The growing anxiety came as the price of Bitcoin fell from last week’s high of $97,000 to below $92,000 on Tuesday morning as markets reacted to escalating trade tensions between the United States and Europe.
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