• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos
94% of Bitcoin investors are making money, Bitcoin, Bitcoin running out of steam

Rich investors are buying Bitcoin amid recent price correction

Olumide AdesinabyOlumide Adesina
3 years ago
in Cryptos, Spotlight
Share on FacebookShare on TwitterShare on Linkedin

Institutional investors are increasing their buying pressure amid recent price corrections prevailing at the world’s most volatile financial market.

Long-term supply decreases as HODLers take profits during bull markets – and increases in re-accumulation phases at cheaper prices.

On-chain data is beautiful. Here a fingerprint of #Bitcoin cycles.

Long-term supply decreases as HODLers take profits during bull markets – and increases in re-accumulation phases at cheaper prices.

Smart money.

Chart: https://t.co/U4h9u8I6wx pic.twitter.com/uSCjUmXrHr

— Rafael Schultze-Kraft (@n3ocortex) March 3, 2021

Very strong on-chain support at $47k – around 500,000 BTC has been moved at that level.

On the bias that there is a large increase in Bitcoin illiquid supply, strong holders are ramping up their positions despite the sell-off.

READ: Why Bitcoin could be worth $1,000,000

Bitcoin is holding up against the macro spectacularly well.

Such data suggest that the Bitcoin Market is transferring Bitcoin wealth from the impatient to the patient.

Data from Glassnode, recently revealed there was a 2% plunge in the number of flagship crypto held on Crypto exchanges between February 23 and March 2. This is equivalent to about 52,900 Bitcoins.

Institutional investors are perceived to be driving Bitcoin’s bullish record-setting run. Amongst them are; Anthony Scaramucci’s Skybridge Capital, Mass Mutual, and Guggenheim (up to 10% of its $5 billion macro funds).

Bitcoin is fired up on all cylinders, smashing its past record highs at the speed of light, and it seems the momentum trade is strengthening as mass media outlets embrace crypto coverage, on the bias that the flagship crypto is attracting significant buying pressure.

Also, the flagship crypto is on its record high amid strong purchases seen in accredited investors gaining more exposure to Bitcoin through the world’s biggest crypto hedge fund, Grayscale, and the CME Bitcoin futures market.


Download Nairametrics App for breaking news and market intelligence.
   
Tags: Anthony ScaramucciBitcoinGlassnodeGrayscale
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market journalist and investment trader. Message Olumide on Twitter @tokunboadesina

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *







NM newsletters
Kwakol
Abbey

Zenth Bank
UBA
Mega Millions

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • 9mobile appoints John Vasikaran as new Chief Operating Officer
  • Greener Tomorrow: Transcorp champions environmental project promoting waste management and recycling in local schools
  • NNPC, Seplat empowers 350 teachers from Edo, Delta states 

Follow us on social media:

Recent News

9mobile appoints John Vasikaran as new Chief Operating Officer

9mobile appoints John Vasikaran as new Chief Operating Officer

September 21, 2023
Greener Tomorrow: Transcorp champions environmental project promoting waste management and recycling in local schools

Greener Tomorrow: Transcorp champions environmental project promoting waste management and recycling in local schools

September 21, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Contact Us
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In