Bitcoin

April

James

Recent data indicate a gradual increase in the number of Bitcoin investors, particularly among <a href="https://news.todayq.com/institutional-investors-are-buying-bitcoin-despite-increasing-transaction-fees/">institutional investors</a>, hedge funds, and cryptocurrency private funds. The data highlights a significant rise in fund holdings, underscoring a noticeable upward trend. Despite the rising price of Bitcoin, these funds demonstrate that institutional investors continue to purchase it. 
According to Glassnode, an on-chain analytics firm, there has been a total accumulation of over 1.01 million Bitcoins since December 2021 until now, spanning a period of 602 days. The current supply held by long-term holders amounts to 14.47 million Bitcoin, which is only 20,000 BTC short of the all-time high value of 14.49 million Bitcoin. Throughout these 602 days, there has been minimal distribution activity. 
The data reveals that between October 2020 and April 2021, there was aggressive distribution of around 1.57 million Bitcoin over 163 days. Conversely, between April 2021 and November 2021, aggressive accumulation took place, resulting in the accumulation of approximately 2.41 million Bitcoin within 217 days. 
As per the <a href="https://news.todayq.com/79-of-bitcoins-circulating-supply-in-profit-signals-a-bull-run-ahead/">data</a>, Around 79% of the circulating supply of Bitcoin, equivalent to about 15,079,000 coins, currently holds a higher value than during its last transaction. This indicates that Bitcoin investors have been enjoying significant profits. 
CoinShares, in their recent report, highlights Bitcoin as the primary focus for institutional investors in the past two weeks. According to James Butterfill, the head of research at CoinShares, Bitcoin-related products received the majority of inflows, totaling $310.6 million during this period. Butterfill emphasizes that Bitcoin accounted for 98% of all digital asset flows over the past two weeks. 
The data showcases the sustained interest and confidence among investors, particularly institutional ones, in Bitcoin. The accumulation of the cryptocurrency by long-term holders and the significant profits realized by investors further highlight the positive sentiment surrounding Bitcoin. With Bitcoin continuing to be the main focus for investors, its prominence in the market remains strong. 
© Todayq News

Institutional investors accumulated +1.01 million Bitcoin in just 602 days

Todayq News

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