According to a report by Krisztian Sandor on CoinDesk, the landscape of cryptocurrency trading is undergoing a significant transformation, with U.S. investors leading the way in driving the surge in Bitcoin's price.
Data from K33 Research indicates that the U.S. market hours have become a hub for Bitcoin trading, accounting for 50% of the total trading volume and propelling Bitcoin's value up by 30%.
This increase in Bitcoin's value is not an isolated event but rather connected to the growing interest and active involvement of institutional giants such as BlackRock, Fidelity, and Citadel. Their participation has not only bolstered investor confidence but also ignited a new wave of optimism in the market.
Interestingly, Bitcoin is carving out its own path, diverging from traditional U.S. equities like the S&P 500 and Nasdaq indices. This divergence, as observed by K33, indicates that U.S. traders are turning to Bitcoin as a distinct asset class to diversify their portfolios.
The recent filing by BlackRock for a Bitcoin exchange-traded fund has further energized institutional activity in the Bitcoin market. This has resulted in a surge in open interest on the Chicago Mercantile Exchange (CME) futures market, a platform favored by sophisticated investment firms.
Samir Kerbage, the Chief Investment Officer at Hashdex, a crypto asset management firm, considers this shift in institutional interest as a pivotal moment for individual crypto investors. He asserts that unlike past trends driven by short-term fear of missing out (FOMO), the current wave of institutional interest is more deliberate and focused on the long-term. Once these institutions enter the crypto world, they are here to stay.
BTCUSD
SELL 30700 - 30900 💯💯
✅ TP1: 30400
✅ TP2: 30000
✅ TP3: 29500
🛑 SL: 31000
Data from K33 Research indicates that the U.S. market hours have become a hub for Bitcoin trading, accounting for 50% of the total trading volume and propelling Bitcoin's value up by 30%.
This increase in Bitcoin's value is not an isolated event but rather connected to the growing interest and active involvement of institutional giants such as BlackRock, Fidelity, and Citadel. Their participation has not only bolstered investor confidence but also ignited a new wave of optimism in the market.
Interestingly, Bitcoin is carving out its own path, diverging from traditional U.S. equities like the S&P 500 and Nasdaq indices. This divergence, as observed by K33, indicates that U.S. traders are turning to Bitcoin as a distinct asset class to diversify their portfolios.
The recent filing by BlackRock for a Bitcoin exchange-traded fund has further energized institutional activity in the Bitcoin market. This has resulted in a surge in open interest on the Chicago Mercantile Exchange (CME) futures market, a platform favored by sophisticated investment firms.
Samir Kerbage, the Chief Investment Officer at Hashdex, a crypto asset management firm, considers this shift in institutional interest as a pivotal moment for individual crypto investors. He asserts that unlike past trends driven by short-term fear of missing out (FOMO), the current wave of institutional interest is more deliberate and focused on the long-term. Once these institutions enter the crypto world, they are here to stay.
BTCUSD
SELL 30700 - 30900 💯💯 ✅ TP1: 30400
✅ TP2: 30000
✅ TP3: 29500
🛑 SL: 31000
