Institutional Investors Accumulate Bitcoin During Market Dip
CryptoNewsTerminal Staff06 Aug, 2024
Institutional Investors Accumulate Bitcoin During Market Dip
Institutional investors are accumulating Bitcoin and other cryptocurrencies during the recent market downturn, according to data from crypto prime broker FalconX. The activity is seen across the board, from retail aggregators to hedge funds, venture funds, and prop desks, who are all showing net buying. The buy/sell ratio has increased from under 50% last week to over 50% today. This suggests that institutional investors are taking advantage of the lower prices to add to their crypto positions. This is a bullish sign for the long-term prospects of Bitcoin and other cryptocurrencies. In previous related news, institutional investors have been increasing their exposure to Bitcoin for some time. In a recent survey by Fidelity, 75% of institutional investors said they are considering adding Bitcoin to their portfolios.
