Bitcoin is exploding! Retail investors are selling, institutions are buying!
Bitcoin institutional investors are not only buying, but are more determined to do so than when BTC/USD was trading near all-time highs.
This is the conclusion of CryptoQuant contributor Cauê Oliveira, who this week analyzed changes in wallet balances of entities with between 1,000 and 10,000 BTC.
These entities reflect the institutional side of the Bitcoin investor base, which has rapidly increased their investments since the beginning of June. Since then, BTC/USD has fallen by as much as 23%.
Even last week, when Bitcoin fell to its lowest level since late February, buying continued, with total increases exceeding 100,000 BTC ($5.7 billion).
