Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Mak Keiser has taken to Twitter to comment on the recent report on institutional inflows in crypto assets published by CoinShares.
The report showed that this time the flagship cryptocurrency Bitcoin has massively outperformed all other crypto assets – XRP, ETH, BNB, LTC and other altcoins. He proudly wrote that "everything goes zero against Bitcoin".
Everything goes to zero against #Bitcoin https://t.co/jyG0a7DInO
— Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) July 18, 2023
BTC received $139.8 million of investments from various institutional funds, which is 99% of all the inflows registered by CoinShares last week.
Month-to-date Bitcoin investments with CoinShares, according to the report, constituted $277 million and year-to-date ones comprised $571 million. Ethereum saw outflows of $1.6 million last week. Investors put only $0.1 million in XRP, $0.5 million in Solana and $0.3 million in Litecoin.
Cardano and Polygon inflows comprised $0.1 million and $0.5 million, respectively.
Yuri MolchanMature holders accumulating Bitcoin, not selling it – Glassnode
Glassnode analytics company has shared that the Bitcoin Long-Term Holder Supply metric has remained at the recently reached an all-time high of 14.5 million BTC. This may indicate, the tweet says, that seasoned investors now prefer to buy and hodl Bitcoin rather than sell or distribute it.
Last Friday, Bitcoin soared above the $31,000 level on the news of the court announcing XRP a non-security asset. XRP itself soared by over 70% in light of the news. However, as the new week started, Bitcoin went down below the $30,000 level as liquidity seems to be drained away from the market. Besides, short-term holders and miners have been actively selling Bitcoin as it reached the recent high.
The #Bitcoin Long-Term Holder Supply remains at an ATH of 14.5M BTC. This suggests mature investors are preferring to accumulate Bitcoin, rather than distribute. pic.twitter.com/VkY9uTAVGG
— glassnode (@glassnode) July 18, 2023
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin