CryptoQuant CEO Ki Young Ju stated that investors are becoming increasingly more positive about Bitcoin (BTC).
Ki Young Ju, CEO of on-chain data and analytics platform CryptoQuant, made a remarkable prediction about the cryptocurrency market in a post he shared on Twitter on September 16.
The CEO stated that institutional investors are no longer aggressively shorting Bitcoin, and that this situation has created a positive atmosphere in the market.
Institutions are no longer aggressively shorting Bitcoin. CME futures net position has decreased by 75% in the last 5 months.
This has shown that institutional investors have significantly reduced their short positions on Bitcoin. The CEO stated that this development has increased confidence in Bitcoin and institutional investors have begun to have a more positive attitude in the long term.
According to CoinGecko data, Bitcoin, which has increased by 2% in the last 24 hours, is traded at $61,235 at the time of writing.
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