It’s All Institutions Now
Bitcoin (BTC) Above $9,000 And It’s All Institutions Now
” JP Morgan Chase & Co, however, says that the Bitcoin futures data is very critical for the crypto market. Their aggregate volume now rests at $12 billion up from April’s $5.5 billion and a $1.8 billion in the first quarter of 2019.
Panigirtzoglou aptly says:
“The overstatement of trading volumes by cryptocurrency exchanges, and by implication, the understatement of the importance of listed futures, suggests that market structure has likely changed considerably since the previous spike in Bitcoin prices in end-2017 with a greater influence from institutional investors.”
The BTC market has now, accordingly, moved from the retail-driven market of 2017. It is now rising due to institutional buying, which in the end will give the token more stability. ”