Bitcoin Is Tanking Here’s What Institutions and Whales Are Doing

  • Cryptocurrency prices have been falling, with the total market cap falling to $1.4 trillion and Bitcoin’s price dropping to $30,000.
  • However, there is evidence that investors are using the price turbulence to move more assets into Bitcoin, Ethereum, and exchange-traded products that are based on other cryptocurrencies.
  • Over the past week, crypto investment products saw net inflows totaling $40 million and Bitcoin saw net inflows of $45 million, according to a new report from CoinShares.
  • The report from CoinShares tracks exchange-traded crypto products, like the Grayscale Bitcoin Trust (GBTC), which is passively invested in Bitcoin (BTC) and mirrors its price movement.
  • Meanwhile, there’s been some notable action in price speculation, with a record amount of money flowing into short Bitcoin contracts (a bet that the price will continue to fall) over the past week.
whales bitcoin market crypto gID 4 Bitcoin Is Tanking Here's What Institutions and Whales Are Doing
Bitcoin Is Tanking Here's What Institutions and Whales Are Doing 2

Leave a Reply