September 19, 2021

Large Investors Continue Buying Bitcoin Despite Increased Volatility

Large Investors Continue Buying Bitcoin Despite Increased Volatility

According to network data, the number of bitoin whales has continued to rise this week, despite the largest decline in the past 10 months.

The information on the Glassnode website shows thatthe number of addresses that store at least 1000 BTC has been steadily increasing since the beginning of this year. At the same time, the analytical company CryptoQuant reports on the maintenance of high network activity and the implementation of most transfers in a series of OTC transactions, preferred by institutional investors.

One example is a business intelligence company MicroStrategy, which bought 314 BTC during the recent recession for $ 10 million.

CryptoQuant also claims that 93% of Bitcoin transactions are currently OTC transactions.

According to OKEx Insights, since September the share oftransfers in the amount of more than 1000 BTC fluctuates around 45%, which is 9 times more than the June figure of 5%. According to analysts, this confirms that institutional players burst into the market in the fall and continue to show high interest in it, buying up digital assets at lower prices during periods of recession.

At the time of publication, the bitcoin rate is $ 32,947, having risen by 5.95% over the past day.