Institutional Buyers May Be Defending Bitcoin from Breaking Below $30,000
Bitcoin has seen a strong rebound today, with bulls defending against a deeper selloff as the crypto neared the lower-$30,000 region overnight Where the entire market heads in the short-term will undoubtedly depend on BTC and its continued reaction to its key near-term support So far, the buying pressure seen between $30,000 and $33,000 has been promising and could indicate that further upside is imminent One on-chain analyst is also noting that this happens to […]
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It has been a turbulent past day for the crypto markets, with Ethereum and most other major digital assets all seeing intense selloffs yesterday Bitcoin was able to avoid seeing any intense decline, with buyers ardently defending its price from breaking below $23,000 The buying pressure here has proven to be quite intense and may continue bolstering its price action for the days and weeks to come One analyst is also noting that its mid-term […]
As bitcoin struggles to kickstart yet another record-breaking rally, Scott Minerd, the CIO at Guggenheim Investments says this could be down to the inadequate institutional support. According to Minerd’s assessment, this lack of sufficient institutional investor support means it will be hard for bitcoin to trade above $30,000. The CIO, however, thinks the viability of the crypto as “an asset class is still very likely.” In a short video, Minerd chronicles bitcoin’s rise and how the crypto initially did not have a large enough market capitalization to attract....
Ethereum has been caught in a wild bout of turbulence these past few days, primarily because of its recent breakout rally that allowed it to gain serious ground against Bitcoin The cryptocurrency has been able to flip the crucial $1,000 level into support, and bulls are in the process of defending it presently It is imperative that bulls can continue defending this level in the near-term, as any dip below it could lead to a […]
Bitcoin has been consolidating within the $30,000 region throughout the past few days and weeks Bulls and bears have largely reached an impasse, with buyers and sellers both being unable to spark any trend This comes as large institutional inflows show some signs of tapering, with these buyers largely being viewed as the ones responsible […]
The ruling class is turning its eye to the cryptocurency space. Institutional adoption is one of the biggest stories of the last few months. After that, governments might follow suit. From MicroStrategy to Square, from Visa to Goldman Sachs, institutional buyers and big companies are slowly moving into the space. The money attracted them, and […]