Institutional bulls back Bitcoin after weeks of altcoin accumulation
Institutional crypto appetites have shifted away from altcoin back to Bitcoin, with BTC investment products leading the inflows for digital asset products for the second week in a row. Institutional investors are pivoting back to digital gold with Bitcoin (BTC) investment products posting a third consecutive week of inflows. According to CoinShares’ latest Digital Asset Fund Flows Weekly report, BTC investment products generated $68.7 million worth of inflows between Sept. 27 and Oct. 1, representing a 36% increase in exposure week-over-week. While products tracking BTC have now dominated....
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XLM price picked up momentum after the coin retraced on its chart over the past week. Over the last 24 hours however, XLM appreciated by 3.6% and was successful in toppling over its immediate resistance mark. The bulls were back in charge and the technical outlook of XLM also portrayed the same sentiment. Currently, XLM price has become steady on the $0.121 level. Over the past few days, XLM has consistently formed higher highs and higher lows which is a sign of bullishness in the market. If the altcoin is able to hold onto its price momentum, then the coin could eye the $0.130 price....
The number of Bitcoin addresses holding at least 1,000 BTC has risen in recent weeks. Bitcoin (BTC) addresses holding at least 1,000 BTC, the so-called whales, have started accumulating more tokens during the recent market recovery. As of Feb. 10, the total supply in these addresses was 8.096 million BTC versus 7.95 million on Jan. 24, according to data from Coin Metrics.Bitcoin whales and institutional inflowsThe buying sentiment among the richest crypto investors picked momentum during Bitcoin's recovery in the past two weeks as BTC rebounded from its 2022 low of $33,000 on Jan. 24 to....
Institutional bitcoin HODLing may seem antithetical to decentralization and greater inclusivity, but it could be the harbinger of better digital asset security.