Institutional investors are consistently purchasing Bitcoin as per CryptoQuant.
Bitcoin’s price is likely to test the $25,860 level of short-term support.
Bitcoin has shown significant negative momentum over the previous several weeks. Amid the severe assault, there has been a noticeable increase in institutional interest, which is widely anticipated to play a significant role in the next BTC rally. Based on analysis by CryptoQuant of wallet deposit and withdrawal records, it can be concluded that institutional investors are consistently purchasing Bitcoin.
Moreover, over the last year, Bitcoin reserves on non-US exchanges have increased by over 10%. On the other hand, Coinbase, Gemini, and Kraken, three major American crypto exchanges, have seen their Bitcoin holdings drop by 30% to over 50%.
Also, there has been a dramatic increase in the number of investors taking part in the Bitcoin futures market. Since November 2022, open interest in Bitcoin futures has increased to a new all-t
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