Bitcoin overtakes tech as most crowded trade, says Bank of America survey
“Long Bitcoin” has once again flipped “long tech” as the most crowded trade based on Bank of America's recent fund manager survey. In another throwback to the 2017 bull market, a major United States bank fund manager survey, or FMS, has put Bitcoin at the pinnacle of positive investor sentiment.According to Reuters, 36% of respondents identified a long Bitcoin bet as the most crowded trade ahead of long tech in a Jan. 2021 survey from Bank of America.January’s report marks the first time that ‘long tech’ has not been number one in BofA’s fund manager survey since Oct. 2019. The result also....
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According to findings of a recent Bank of America (BOA) survey, buying bitcoin has now surpassed tech stocks as the most crowded trade. This new ranking means tech stocks have been relegated into second place for the first time since October 2019. Bitcoin Bubble Ranking Still, a majority of the interviewed fund managers believe bitcoin “to be in a bubble.” Consequently, as the Reuters report notes, a majority of these respondents predict that the value of bitcoin will halve within 12 months. Since the start of 2021, the value of bitcoin has surged 30% from just under $29,300....
The most recent Bank of America Fund Manager Survey finds that the most crowded trade is “long bitcoin.” Nonetheless, 75% of fund managers say the cryptocurrency is in a bubble zone. Fund Managers Say Long Bitcoin Is Most Crowded Trade but Most See Bubble The Bank of America (BoA) Fund Manager Survey for May, published Tuesday, shows that “long bitcoin” is currently the most crowded trade in the world. Last month, long bitcoin was the second-most crowded trade, with the most crowded trade being “long tech.” Bank of America surveyed 216 fund managers with....
The highly anticipated Bank of America fund manager survey has been published, and this December fund managers who participated in the survey are sweeping up risk assets. The asset managers have dropped cash for the first time in close to seven years, as levels are down 4%. Moreover, strategists at Bank of America Corp. now say the most crowded trades are “long tech,” “short USD,” and “long Bitcoin.” Cash assets are under by 4%, according to the latest Bank of America’s fund manager survey published this week. Participants in Bank of....
Bank of America’s latest global fund manager survey shows that “long bitcoin” is now the third most crowded trade. The most crowded trade is now “long tech stocks,” followed by “long ESG.” Bank of America’s global fund manager survey for July, published Tuesday, shows that “long bitcoin” has fallen to third place among the most crowded trades. The Global Fund Manager Survey is Bank of America Securities’ monthly report that canvasses the views of approximately 200 institutional, mutual, and hedge fund managers around the....
Bank of America noted that trades identified as "crowded" have historically been associated with incoming market tops. Despite the ongoing sideways trend in the cryptocurrency markets, Bitcoin (BTC) still remains a crowded trade. According to a new survey from Bank of America, this could indicate that the current bull cycle's market top is still to come.Bank of America's most recent fund manager poll suggests that the “long Bitcoin” bet is now the most crowded trade across all markets, with nearly 45% of respondents indicating it ahead of other trades like “long tech,” Bloomberg reported....