The cryptocurrency market has been in a sharp bearish cycle for weeks, and the leading cryptocurrency Bitcoin (BTC) also led it.
BTC, While continuing his struggle at the $20,000 level, it turned out that the institutional investor has been putting a serious selling and short position pressure since last week.
Institutional Investors Shorten BTC
According to the weekly cryptocurrency fund report shared by CoinShares, institutional investors 64 million dollars cryptocurrency investment $51.4 millioni was used to open a short position in BTC.
Data between June 27 and July 1 shows that the institutional investor has officially buried BTC alive in the grave.
US-based investors $46.2 million It looks like it got the lion’s share with the flow of funds.
First futures focus to be approved in the US BTC ETFProShares, on the other hand, seems to have mediated these transactions. ETF trading under the name BITI is seen as the transactions where the most capital goes.
CoinShares also shows that investors from Brazil, Canada, Germany and Switzerland have created $20 million in cryptocurrency investment volume.
Besides Bitcoin, among the assets that investors are interested in, Solana (SOL), Polkadot (DOT) and Cardano (ADA) is located. It is not surprising that Cardano, which has recently implemented a major update, is here.