December 2, 2022

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Bitcoin sluit zevende week op rij in rood, maar instituties kopen BTC

Bitcoin Closes in the Red for 7th Week in a Row, But Institutions Are Buying BTC » Crypto Insiders

Bitcoin (BTC) The week closed in red seven times in a row for the first time. Despite this, Bitcoin managed to close the week with small gains. However, the price was rejected again last night and bitcoin at the time of writing is back at the same price as 24 hours ago.

Bitcoin Price Drops Below $30,000 Again

The Bitcoin price It broke through $30,000 again yesterday afternoon and then held there. Yesterday evening, Bitcoin rose steadily to $30,500. When the price got there, Bitcoin jumped straight to $31,000, reaching a peak of $31,350 around midnight.

Bitcoin stayed there for several hours, but then started dropping again. Bitcoin briefly found support around $30,500 this morning, but it hasn’t been able to hold on to that either. Then the price fell to $29,500. At the moment, BTC is holding out here and its price has soared to $29,700 at the time of writing KuCoin and 28,500 euros in Petavavo† Price direction for the coming days can be determined by how green or red stock markets open later today such as the S&P 500 and Nasdaq.

Institutional Investors Accumulating Bitcoin

Despite the drop in prices and significant market uncertainty, Ki Young Ju, CEO of analysis firm CryptoQuant, reported that institutional investors are buying BTC. He says that institutions have already started accumulating about $30,000 in BTC, but may not have taken into account the terra (LUNA) crash and the BTC waste from the Luna Foundation Guard. However, most of the sales pressure was offset by this buildup, says the researcher.

Furthermore, the CEO of CryptoQuant reported that the number of lung Positions on Bitfinex are increasing rapidly, as we reported last week. At least 50,000 BTC has flown to Bitfinex in the past two weeks, of which 39,000 BTC is used for long trades.

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Even the number of buy positions on Bitfinex has a file high all the time Check, a strong sign of trust between whale. According to researchers, futures traders are now mainly whales. However, the CEO says that BTC could drop below $20,000 if these whales are liquidated, but he considers this scenario highly unlikely.

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