Editor's PiCK
[Analysis] "Institutional Investors Realize Profits Following Bitcoin Golden Cross"
Summary
- It is reported that institutional investors began realizing profits following the occurrence of the Bitcoin Golden Cross.
- Glassnode said institutional investors' profit-taking over the last 24 hours exceeded $500 million per hour three times.
- Bitcoin saw an increase in profit-taking after hitting an all-time high, and investors averaged a 16% return.
It has been observed that institutional investors began to realize profits after Bitcoin (BTC) showed a golden cross about two weeks ago.
On the 3rd (local time), cryptocurrency-focused media outlet CoinDesk reported that investors started to take profit after Bitcoin’s 50-day simple moving average (SMA) crossed above the 200-day SMA, marking a golden cross on the 22nd.
Glassnode stated, "In the past 24 hours, the scale of profit-taking by institutional investors exceeded $500 million per hour three times."
They added, "Profit-taking in Bitcoin increased noticeably after recently reaching an all-time high," and that "these investors averaged a 16% gain."
Meanwhile, as of 12:33 PM (KST) on the 4th, according to CoinMarketCap, Bitcoin was trading at $105,687, up 0.17% from the previous day.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
![Rotation from tech to blue chips…Micron plunges 9.55% [Wall Street Briefing]](https://media.bloomingbit.io/PROD/news/d55ceac4-c0d2-4e63-aac9-f80fd45dfbbd.webp?w=250)