RE: Institutional Longs on Bitcoin Price Grow as Bear Momentum Wanes
Funny, just a few days ago these same outlets were saying we were going to see prices go down way below $7000. Once again, Honey Badger does not give af!
Institutional Longs on Bitcoin Price Grow as Bear Momentum Wanes
Despite the harrowing price drop seen in late September, institutions are expecting for the Bitcoin (BTC) price to soon head higher — at least for institutions involved in the Chicago Mercantile Exchange (CME) futures market.
Industry analytics provider Skew recently observed that long positions held by institutional accounts — pension funds, endowments, insurance companies, mutual funds & portfolio/investment managers with institutional clients — have begun to rise again in October after nearly falling to zero BTC. Right now, this subset’s long holdings sit at just over 1,100 BTC…