Summary
- It was reported that buying interest from U.S. institutional investors increased after Bitcoin plunged.
- CryptoQuant's MAC_D stated that the Coinbase premium indicator significantly rebounded after Bitcoin's plunge.
- It was analyzed that U.S. institutional investors use an aggressive buying strategy during panic selling situations by small investors.
Bitcoin (BTC) is seeing continued buying interest from U.S. institutional investors after a sharp drop this morning.
On the 10th (local time), CryptoQuant author MAC_D reported, "The Coinbase premium, an indicator of buying pressure from U.S. investors, has significantly rebounded after Bitcoin's early morning plunge. Additionally, the market has shown a tendency to rebound when the premium recently turned negative."
The author further analyzed, "This rebound indicates that when excessive panic selling occurs on Binance, where the proportion of small investors is high, U.S. institutional investors employ an aggressive buying strategy."
Meanwhile, Bitcoin is currently trading at $97,687.89 on CoinMarketCap, down 1.95% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
