Institutional Investors Are Quiet As Bitcoin Hits $21,000! Will the Rising Continue? Is the Fall Coming?

Since the start of 2023 Bitcoin (BTC) It continued its gains and rose above $21,000.

enthusiasm in bitcoin altcoinWhile retail investors, who have been in losses for a long time, are pleased with this rise, there is no activity on the institutional investors front.

Examining the perspective of institutional investors against the last rally CryptoQuant Analyst “MAC_D” said institutional investors were just watching as Bitcoin surged to $21,000.

BTC By over $21,000 FTXWhile discarding the weakness on .

For this reason, the analyst stated that institutional investors remained calmer despite the rise.

In this context, the analyst said that Institutional investors do not tend to buy according to Fund Volume Index, Fund Assets Index and Over-the-Counter Transactions (OTC).

“As BTC rises to $21,000, looking at three indicators, it’s hard to say that there is a buying trend by institutional investors.

First, looking at the Funds Volume index, the level of trading volume is insignificant and there is nothing unusual.

Second, according to the Funds Assets index, institutions’ BTC holdings are dwindling and only prices have increased.

Third, no unusual transaction occurred in Over-the-Counter transactions. Usually at the bottom, institutional investors want to buy quietly through OTC trading.

However, this trade was only actively traded on the exchange and no unusual transactions took place on the onchain.”

These three indicators and BTCEvaluating the rise in , the analyst said that he does not think that the current rise means a true uptrend transition.

“Looking at the three ingredients, I don’t think the current uptrend represents a true uptrend crossover.

I think this is the result of the purchasing sentiment that was suppressed when the US CPI index was released recently.”

Finally, the analyst stated that the existing institutional investors remain calm and just watch. “OTC trading will be more volatile when institutions anticipate a full-fledged uptrend reversal.” said.

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