PiCK
"Ethereum (ETH): Institutions accumulate below $2,000 despite six straight months of declines"
Summary
- Ethereum (ETH) has fallen for six consecutive months, but institutional investors’ buying interest is continuing, the report said.
- The sub-$2,000 zone is being viewed as more of an opportunity than a risk, and inflows into wallets used for whale accumulation are at an all-time high, it said.
- Institutional investors such as BitMine (BMNR) and K3 Capital are using the price decline as a strategic buying opportunity, while retail investors’ interest is waning, the report said.
An analysis has suggested that institutional investors’ buying interest is persisting even as Ethereum (ETH) extends its decline for a sixth consecutive month.
According to crypto media outlet BeInCrypto on the 19th (local time), an analyst said, "Ethereum is posting its longest downtrend since 2018," adding, "Concerns are growing over expanding unrealized losses, but the sub-$2,000 zone is being seen more as an opportunity than a risk."
He explained, "Funds flowing into wallets used for whale accumulation are hitting an all-time high."
The outlet cited BitMine (BMNR) and K3 Capital as examples of recent large-scale Ethereum purchases. The assessment is that institutions are using the selloff as a strategic buying opportunity.
Meanwhile, retail investors appear to be losing interest in Ethereum. The outlet reported, "Retail investors are fatigued by the sideways market that has persisted over the past five years."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
