The Great Whale | Many People Want to Buy More Crypto

 100 total views

2021-12-31 16:19:32

Bitcoin flash crash on Binance.US

To date, Bitcoin has grown continuously for more than three consecutive weeks. Bitcoin has corrected slightly around $63,000. The majority of altcoins followed the trend of BTC correcting, a few others increased slightly.

Over the past day, the event that the Bitcoin price quickly dropped by 87% from over $64,000 to $8,200 and then recovered in about a minute on Binance.US caught the eye. This is an exchange only for US people to trade.

After the incident, stated that one of its institutional investors had encountered an error in its bot trading algorithm, which appears to have triggered a sell-off that drove the price. down sharply.

In the crypto market or any market there are whales, small groups of people or institutions that hold the majority of the assets in the market. So some things are said as elephants can see and can take advantage of this to profit on Binance or serve their interests.

The number of futures orders on exchanges also decreased because more than 429 million USD of Long orders were liquidated yesterday. The Funding rate also cooled down.

During the day, there was also a large amount of BTC pushed to the exchange within 1 hour. And an hour later there was also a large amount withdrawn.

If many investors want to sell and then collect but only for a short time, this explanation does not make sense. However, some say this is a whale strategy. They push a large amount of BTC on the exchange to confuse investors to cause anxiety for investors. In general, BTC is still withdrawn from the exchange more than the amount deposited.

Crypto is increasingly attracting investors

The sharp increase in the price of BTC and the acceptance of the Bitcoin Future ETF makes BTC even more attractive to large investors.

Peter Thiel, the co-founder of PayPal and Palantir is also one of them. He said he feels like he hasn’t invested in bitcoin because he feels he hasn’t invested enough in it. He also expressed his desire to buy more BTC but did not know at what price to buy more.

Next, the Houston Fire Force Retirement and Relief fund (HFRRF) marks the first time a public pension plan in the United States has announced an investment in digital assets.

This fund holds total assets of more than 4 billion USD. According to the announcement, the HFRRF fund invested $25 million in Bitcoin and Ether, but the fund did not disclose how it will be split between the two.

Another large investment fund, Capital Group, is interested in the crypto market. This company is managing $2.6 trillion, operating for more than 90 years. In the announcement, the company said that an investment fund should have BTC, ETH in its portfolio to diversify and reduce risk.

According to Coinshare statistics, digital asset investment products saw inflows totaling $80 million in the last week. Total assets under management now hit an all-time high of $72.3 billion.

In which, most of the cash flow invested in Bitcoin with a total value of 70 million USD. Next, Polkadot and Cardano saw continued inflows totaling $3.6 million and $2.7 million, respectively.

Bitcoin and crypto are increasingly attracting investors. The largest cryptocurrency shows its investment potential and store of value. Bitcoin investing and long-term holdings will also have a lot of psychological, market challenges. But investors who believe and persist in long-term holding have so far reaped the rewards of their investment process.

► Join the support team and the most prestigious Exchanges with exclusive deals with CHK


#Great #Whale #People #Buy #Crypto

Related Posts

Leave a Reply

Your email address will not be published.

Close Bitnami banner