Institutional investors, as opposed to individual investors, may be behind the recent rises in Bitcoin (BTC).
Bitcoin, which has been rising since October last year, has recently 64 thousand dollars rose up to the band. But data shows that this rise is more driven by institutional investors revealed.
Recently published by IntoTheBlock analysts in details, on-chain data And Cryptocurrency-focused searches on Google It was stated that it is still at a mostly passive level.
It was stated that, unlike the past bull runs, individual investors have not yet reached the “foaming” point, while it was emphasized that corporates were pushing the Bitcoin price up.
Analysts believe that the source of large purchases in the market is spot Bitcoin from exchange-traded funds (ETFs) He stated that it might be coming:
Despite Bitcoin’s incredible price movement, current data points to a muted retail front. This shows that institutional investors may be driving this stage. All eyes are on spot Bitcoin ETFs as potential buyers.
