Hi HODLers,
Matrixport’s chief strategist is making a bold claim as he estimates that 85% of Bitcoin being bought is done by Institutional Investors.
The Bitcoin Fear & Greed Index seems relatively healthy around 55 even with the recent bounce.
What did the report explicitly said?
The report stated that:
if an asset that trades 24 hours “performs well” during U.S. trading hours, it indicates that U.S. institutions are buying it, while an asset that sees growth during Asian trading hours indicates that Asian retail investors are buying it.
This seems a bit light to me... This is clearly not a thorough way of researching if institutions or retail players are buying...
Concerning the new hot coin in town:
“Aptos is seeing a mix of strong returns during U.S. trading hours AND during Asia trading hours.”
I guess, this is why this is the hot coin of the moment! Beware with these if you are long or short, the volatility will crush you.
I have seen a few tweets of users losing it all by leveraging one way or another.
“If history is any guide, then we should see the outperformance of layer 1 and altcoins relative to Bitcoin.”
What am I doing?
Disclaimer: DO NOT do try this at home!
I am adding to my shorts very slowly as I believe the FED will crush the Equity market and risk-on assets. Definitely a risky bet but as they say: "No Pain, No Gain!".
Stay safe out there,