According to the Glassnode report, as the price of Bitcoin continues to rise, even exceeding $57,000, on-chain data shows that not only retail investors and ETF fund companies are entering the market, but also institutional investors and traders are returning to buy Bitcoin. Because these people With more courage to pursue prices, the risk tolerance of the Bitcoin trading market is increasing, and liquidity is also increasing.
According to Glassnode statistics, judging from the inflow and outflow of cryptocurrency exchange wallet addresses, they found that the recent capital inflow reached 5.57 billion U.S. dollars. Since most of the exchange’s deposits come from short-term traders, short-term traders have recently been depositing money into the exchange. Funds, presumably used to buy Bitcoin, and open positions in Bitcoin options and futures have also reached recent highs.
The buying tide brought by Bitcoin ETF is gradually pushing up the price of Bitcoin. We believe that if this trend continues, more and more funds will flow into Bitcoin from small and medium-sized currencies, and its price is also expected to continue to rise. In the short term, the market There are no potential negatives. The market is in a state of alarming rise, but it is still relatively safe. We are still observing whether there are any potential risks in the near future.
Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.
〈MICA Daily｜Glassnode: Speculative funds and traders are returning to buy Bitcoin〉 This article was first published in "Block Guest".
