Bitwise CEO Hunter Horsley says that institutional and long-term investors view the Bitcoin drop below $70,00 in a very different way.
“I think long-time holders are feeling unsure, and I think the new investor set, institutions are sort of getting a new crack at the apple,” Horsley said An interview with CNBC was conducted on Friday. Horsley stated that institutional investors are buying up the market. “seeing prices they thought that they’d forever missed.”
Geoff Kendrick’s, Standard Chartered’s, head of digital assets research was appointed in October. said He doesn’t think Bitcoin will ever fall below $100,000.
Bitcoin “getting swept up” The rest of the macro
Horsley has acknowledged the fact that Bitcoin (BTCThe latest plunge in bitcoin prices comes at a time when regulatory clarification is gaining momentum and there’s heightened institutional interest. Bitcoin has fallen by 22.60% in the last 30 days and is currently trading at $69635. according CoinMarketCap.
Horsley has said that Bitcoin’s market is in decline and it is “getting swept up” With the rest of macroassets, investors are “selling everything that is liquid.”
“In the present moment, it is mostly trading with other liquid assets,” “He said”
Since then, gold has fallen by 11.43% since its high point of $5,609 on January 28. It was trading at $4.968 when this article was published. according Trading Economics.
In the meantime, silver has dropped 35.95% since its high point of $121.67 on January 29, trading At the time of publishing, this item was priced at $79.98.
Horsley highlights the strong flows of institutional money
Horsley says that the demand for Bitcoin, in particular from institutional investors, remains high.
Bitwise, he said, manages institutional funds worth over $15 billion. On Monday alone it saw more than 100 million dollars in inflows when Bitcoin traded at around $77,000.
Related: Bitcoin difficulty drops by over 11%, sharpest drop since 2021 China ban
“There’s a lot of volume, and there are sellers and buyers,” Horsley says.
Google Trends shows that retail investor interest has also risen. Google Trends data Searches for “Bitcoin” reached a score of 100 The price of the car fell on Tuesday to $60,000. This is the lowest level since October 2024.
BlackRock’s Bitcoin spot exchange-traded funds (ETF) has seen a significant increase in value. $231.6 million in inflows After two days with heavy withdrawals, the volatile week in the market has ended on a positive note.
Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation: Santiment founder
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Source: cointelegraph.com
