Bank of America noted that trades identified as “crowded” have historically been associated with incoming market tops.
Despite the ongoing sideways trend in the cryptocurrency markets, Bitcoin (BTC) still remains a crowded trade. According to a new survey from Bank of America, this could indicate that the current bull cycle’s market top is still to come.Bank of America’s most recent fund manager poll suggests that the “long Bitcoin” bet is now the most crowded trade across all markets, with nearly 45% of respondents indicating it ahead of other trades like “long tech,” Bloomberg reported Tuesday. The new BofA survey captured responses from 194 fund managers with $592 billion worth of assets under management.BofA Global Fund Manager Survey. Source: BloombergIn the survey remarks, BofA notes that trades identified as crowded have historically heralded an incoming top for their respective markets. Indeed, Bitcoin was
Źródło: https://cointelegraph.com/news/long-bitcoin-chosen-as-most-crowded-trade-in-latest-bofa-survey
