Institutional Investors Pay Huge Attention To Bitcoin

It’s been revealed the fact that institutions are paying massive attention to Bitcoin. Check out the latest reports about this.

Digital assets manager CoinShares has recently said that institutional crypto investment products enjoyed their fourth consecutive week of inflows last week.

In its latest Digital Asset Fund Flows Weekly Report, CoinShares said that institutional crypto investment products saw inflows of nearly $114 million last week. This is a continued sign of bullishness from institutional investors.

“Digital asset investment products saw inflows totaling $114m last week, which is seeing continued improving sentiment for the asset class. This 4-week run of inflows now total $345m, almost fully correcting the prior 6-week run of outflows that totaled $408m.”

Bitcoin has been almost the entire focus of the investors, according to Coinshares.

“Bitcoin has again been almost the sole focus for investors, with inflows of $104m last week, bringing its total 4-week run to $310m. We believe this is a flight to safety by investors fearful of the ongoing traditional finance challenges. Opinion remains divided though, with short bitcoin seeing inflows totaling $14.6m last week.”

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $29,927.

According to the latest reports, it seems that there’s a new ATH for BTC around the corner.

The pseudonymous analyst Kaleo said that a lot of crypto traders get “lost in the noise of $1,000 candles” and fail to see the bigger picture for BTC, altcoins, and non-fungible tokens (NFTs).

“This is the roadmap I shared in July of 2022:

Base range between $16,000 – $30,000 breaking above HTF (high time frame) diagonal resistance around December (happened in early Jan).”

In order to find out more details about this, check out our previous article.