Demand Among Institutions For BTC & ETH Is Weaker? - Kakiforex.com - Financial Market Media No. 1 in the World Demand Among Institutions For BTC & ETH Is Weaker? Demand Among Institutions For BTC & ETH Is Weaker?
InstaForex

June 30, 2021

Demand Among Institutions For BTC & ETH Is Weaker?

 Research firm Glassnode today released the findings of a crypto study that institutional demand is slowing with the Bitcoin market still trying to break resistance levels. The crypto market is further stressed as selling pressure from mining mounts.


The report notes that one of the biggest factors in the institutional narrative is the one -way flow of crypto assets to GBTC Grayscale funds. Investors are trying to capitalize on the high abritaj enjoyed in 2020 and early 2021.


Bitcoin is still trading sideways this week plus investors are starting to let go of previous gains in the market by selling their investments during the ‘downtrend’ market.



Since mid -May, net asset value has declined by -21.23%. These price cuts continued to increase following sales in the market. Glassnode also saw outflows from two institutions and BTC.


In summary, the report states that GBTC premiums, net outflows from ETFs and Coibanse can be concluded that BTC demand from institutions has been weakening over the past week.


Total Bitcoin outflows for all funds have declined to just $ 1.3 million, down from $ 89 million for the previous week. Still, there is little inflow for Grayscale. This indicates mixed sentiment for the Bitcoin market among investors.


The BTC price so far has soared to the price level of $ 36,393.14 by up 5.70% in 24 hours.