Institutional Investors Flocking to Bitcoin: 85% of Purchases Made by Institutions
• Matrixport’s data shows that institutional investors account for 85% of Bitcoin purchases.
• The report suggests that an asset’s performance during US or Asian trading hours can help distinguish whether institutional or retail investors favor it more.
• Bitcoin has seen a 40% price gain since January 1, which suggests that institutional investors are buying.
Institutional investors have not abandoned the cryptocurrency market, at least not according to recent data from Matrixport, a digital asset financial services platform. According to their data, institutional investors now account for a whopping 85% of Bitcoin purchases. This is a strong indication that institutional investors are still very much interested in crypto, and serves as a sign that the bull market is near.
Markus Thielen, the head of research and strategy at Matrixport, believes that the recent data speaks volumes. He believes that it is evidence that institutional investors have not thrown in the towel on cryptocurrency and are still bullish on the asset class. He believes that the data is further proof that the bull market is imminent.
The report from Matrixport also suggests that an asset’s performance during US or Asian trading hours can help distinguish whether institutional or retail investors favor it more. Matrixport explains that if an asset is trading 24 hours and performs well in US trading hours, it is a sign that US institutional investors are buying it. Conversely, if the asset performs well during Asian trading hours, it is a sign that Asian retail investors are buying it.
This theory has been backed up by the recent performance of Bitcoin. Since the start of 2023, Bitcoin has seen a 40% price gain. This suggests that institutional investors are the ones buying Bitcoin, as the majority of the move happened during US market hours.
It is clear that institutional investors have not abandoned the cryptocurrency market, and the data from Matrixport confirms this. The data shows that institutional investors are still very much interested in crypto, and that the bull market is near. The report also suggests that an asset’s performance during US or Asian trading hours can help distinguish whether institutional or retail investors favor it more. Finally, Bitcoin’s 40% price gain since January 1 further suggests that institutional investors are buying.
In conclusion, the data from Matrixport shows that institutional investors have not abandoned crypto, especially Bitcoin. This is a good sign for the crypto market, as it is a sign that the bull market is near. Furthermore, the report suggests that an asset’s performance during US or Asian trading hours can help distinguish whether institutional or retail investors favor it more. Finally, Bitcoin’s 40% price gain since the start of 2023 further suggests that institutional investors are buying.
