from Matrixport Markus Thielenis of the opinion that institutional investors are not passing through cryptoassets. He pointed out that 85% of Bitcoin purchases came from US institutional investors, according to the data.
Speaking to Cointelegraph, Thielen underlined that we may be entering a new “crypto bull market” with the support of institutional investors.
Measuring the performance of the crypto asset in terms of US and Asian trading hours, Matrixport gave the following detail. He is of the opinion that “institutional purchases” are high if an asset performs well during US trading hours. An asset growing during Asian trading hours, on the other hand, is of the opinion that it represents “retail” interest.
Matrixport Draws Attention to Bitcoin Data
The report included information that Bitcoin is up 40% this year, with 35% of those gains occurring during US trading hours. This means it has an “85% contribution” associated with US-based investors. As a result, US institutions are still showing interest in digital presence.
Bitcoin Fear and Greed Index is 55 – Greed
Current price: $23.033 pic.twitter.com/OAt0TakkZR
— Bitcoin Fear and Greed Index (@BitcoinFear) January 27, 2023NEWS CONTINUES BELOW
According to Thielen, institutions prefer Bitcoin before investing in any crypto asset.
Institutional Money Flows To These Two Altcoins!
In the report, Lido and aptos While it was emphasized that news about other projects, such as the coin, had a positive impact on token prices, the crypto rally only started after the US inflation data were released on January 12.
The detail that Ethereum price performed better during US trading hours is also included in the report. This means that US institutional investors are showing interest. As a matter of fact, Aptos attracted attention by performing well at all hours of the day.
You can follow the current price action here.