Institutional Demand in Bitcoin Is Increasing Relentlessly: It Has Reached a 19-Month Peak!

Institutional investors' Bitcoin holdings reached their highest level since July 2022.
Data from on-chain analytics platform CryptoQuant revealed the growing demand from institutional investors. The number of holdings in wallets holding between 1,000 and 10,000 Bitcoin has seen the highest level since July 2022.
The increase in this range, which mostly represents long-term investors, was interpreted as a clear bull market indicator. In the past bull cycles, increases in the amount of Bitcoin by institutional whales were among the factors that carried the price upwards.
These investors tend to hold onto their assets for more than 6 months and often don't sell even if the price falls below their buying point.
At the level in July 2022, these whales sold and the price of Bitcoin exhibited serious declines as market conditions remained negative. The amount of Bitcoin held by institutions peaked in June 2021, and just a few months later, the price of Bitcoin began to decline after peaking.
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