The hour of the bulls – A recent report tries to prove that the Bitcoin (BTC) still interests American institutions, despite the bear market. The figures indicated there for this purpose would also show that the crypto markets could even be on the cusp of a new bull run.
Retail Investors vs. Institutions: A Question of Timing
A January 27 report from the crypto platform Matrix port tries to establish the profile of the main investors in a cryptocurrency, based on the hours at which this crypto “performs well”.
An asset, tradable 24 hours a day, would mainly register increases during trading hours in the United States, when the american institutions are the main buyers. On the other hand, an asset, whose gains are largely observed during Asian trading hours, would rather be bought by retail investors in Asia.
>> 10% reduction on your trading fees? Sign up on Binance (commercial link) <<
US Institutions Behind Bitcoin’s Bullish Recovery
The Matrixport report highlights that the price of Bitcoin has jumped 40% this year. The 35% gains would have taken place during the US trading hours. These facts would tend to prove that the American investors would have contributed up to 85% to the bullish recovery since the beginning of 2023.
Specifically, based on the previous assumptions, US institutions would then constitute a significant part of the buyers behind recent bitcoin rallies, which touched a local high around $23,800.
Soon the beginning of a new bull for the crypto markets?
Speaking to Cointelegraph, Matrixport’s Head of Research and Strategy, Markus Thielenasserted that this data would be proof that the institutions don’t “give up crypto”. The fall of industry giants like Celsius, Three Arrows Capital, and FTX hasn’t turned these investors away from cryptocurrency.
The executive within Matrixport also believes that these figures could indicate the potential start of a “bull market for crypto now”. Furthermore, Markus Thielen takes these statistics as a sign that institutions generally buy bitcoins firstbefore acquiring other cryptocurrencies.
This Matrixport report is not the only study that concludes that institutions have not turned their backs on cryptocurrencies during these bear markets. This study conducted by Coinbase also confirms institutional investors’ appetite for digital assetsdespite the bear market.
Bitcoin is tough and resilient. Tomorrow or in some time, you will be happy to have bought some during the crisis. Don’t wait too long to take advantage of the current buying conditions, and save another 10% on your trading fees by following this link! Run to register on Binance ! (commercial link).