Institutional Investors Buying Bitcoin Weakness As VC Firms Accelerate Interest in Crypto: Glassnode Co-Founders - BitcoinEthereumNews.com
Bitcoin CryptoInstitutional Investors Buying Bitcoin Weakness As VC Firms Accelerate Interest in Crypto: Glassnode Co-Founders06/12/2022Bitcoin Ethereum Nachrichten The co-founders of leading blockchain analytics firm Glassnode are revealing that institutional investors are loading up on Bitcoin as BTC trades below the $30,000 level. In Glassnodes latest Newsletter, Jan Happel and Yan Alleman say that weekly crypto inflows show that institutional investors are gobbling up Bitcoin as it continues to flash signs of weakness. “What is interesting to observe is that the demand for Bitcoin exposure in traditional markets strengthened. Following Bitcoins $69 million inflow noted in [May 30th] the capital flows nearly doubled last week as institutional investors bought into weakness at a discount.” While the Glassnode co-founders say that Bitcoin is witnessing weaker demand from long-term holders on top of selling pressure from short-term holders, they highlight that BTC is faring better than altcoins given the current market sentiment. “Bitcoin outperformed altcoins as investors seek safety within the crypto space in a fear-induced market.” The Glassnode executives also say that venture capitalists (VCs) continue to pour money into the crypto space despite a gloomy macroeconomic backdrop. A similar appetite was noted in the VC market, as the year-to-date capital raised is at 63% of 2020 ($19.7 billion