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The largest inflow of institutional funds to Bitcoin in 4 years is recorded
The number of large Bitcoin investors has peaked over the past 4 years. What is the reason for this? Currently, at least 1678 wallets own 1000 BTC, a figure that has not been approached since January 2021. The data is as followspublished Bitwise analyst Andre Dragosch with reference to the Glassnode platform.
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Why assets are being poured into bitcoin
Institutions are replenishing their BTC holdings again, and the inflow of funds into bitcoin ETFs has not stopped for three weeks. It seems that the big players are confident in the asset's bright future. Retail investors, on the other hand, are slowing down. Over the past month, they have added only 1000 bitcoins to their wallets, which is at least a modest contribution by historical standards.
since the beginning of 2024, large investors have been adding to the assets like on steroids: retailers have modestly added 30,000 BTC, while institutions have picked up 173,000 coins;
Last week, Japan's Metaplanet raised another $66 million by selling off its shares to buy more bitcoin. Apparently, they were inspired by the success of MicroStrategy, which started buying BTC back in April, and since then their shares have soared by hundreds of percent;
In October, Bitcoin's share of the total crypto market jumped to 59%, a record since April 2021. Now, this figure continues to hold at the same level. It seems that Bitcoin is once again garnering all the attention, leaving the rest of the coins to watch from behind the scenes.
This month.analysts brokerage Bernstein predicted that if Trump wins the November 5 election, Bitcoin could soar to $90,000. Meanwhile, 61% of participants on Polymarket (one of the largest decentralized prediction markets) have already bet on Trump.
Our experts are always ready to help you with any questions, includingcryptocurrency exchange. Professional advice and an individual approach are the hallmarks of the Namomente service.
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