Retail investors are suffering as a result of the latest development in the cryptocurrency market , which started on September 13 when the US Federal Reserve released the CPI report. Bitcoin and other cryptocurrencies have been affected by the recent announcement that the Fed interest rate has increased by 75 basis points.
As a result of this news, BTC declined below the crucial $20,000 level. However, analysts revealed that large organizations and institutional investors are still making significant investments in bitcoin, despite the fact that retail investors are attempting to sell their bitcoin holdings out of fear.
Institutional investors could soon become more prevalent in the Bitcoin (BTC) market and the CEO of CryptoQuant, Ki Young Ju, stated in a tweet that Bitcoin is currently trading at a price that is almost exactly equal to the predicted entry price of institutional investors who have been using Coinbase’s services.
bright day for bitcoin
Based on the on-chain volume weighted average value (OWAP) of BTC outflows on Coinbase, the analysis was done. This technical indicator helps traders to time their entry and exit from the market by comparing the price to identify whether the market trend is overbought or oversold.
A price increase can result from institutions entering the market at the current price. This is due to the notion that institutional investors, who are frequently whale-level investors, are responsible for the market’s bullish movements.
The analysis coincides with a period in which many organizations have demonstrated increasing interest in the adoption of cryptocurrencies.
According to Bloomberg, Nasdaq, the second-largest stock exchange by market capitalization, is the most recent organization to announce ambitions to provide cryptocurrency services.
Although Nasdaq has impressive goals for cryptocurrencies, including offering custodial services to its customers, the company tells Bloomberg that the implementation of these plans is being delayed to wait for more legislative certainty for the sector. Is.
