As the institutional investment narrative continues to play out, on-chain metrics show the continued accumulation of BTC in large addresses is still ongoing, with an increase of 9% during the previous 30 days alone. This was slightly offset by the decrease in addresses holding 10-100BTC, indicating that smaller “whales” were finding the chance to take profit too good to pass up.
The year started with a surging increase in volatility and trading volume, with BTC setting a new all-time high at $41,941 before plunging back below $32,000. In doing so, annualized volatility hit a high of 97%, a figure not seen since April of 2020.
The latest bi-weekly newsletter from Cointelegraph Consulting takes a look at how futures funding rates are impacting the market. With investors greedy to cash in on Bitcoin’s skyrocketing prices, funding rates hit new highs, exposing the market to high risk from over-leveraged positions.
Read the full newsletter edition here for more news and signals, complete with detailed charts and images.
Cointelegraph’s Market Insights Newsletter shares our knowledge on the fundamentals that move the digital asset market. With market intelligence from one of the industry’s leading analytics providers, Santiment, theTitle: Cointelegraph Consulting: Institutions keep the Bitcoin bull market on track
Sourced From: cointelegraph.com/news/cointelegraph-consulting-institutions-keep-the-bitcoin-bull-market-on-track
Published Date: Fri, 15 Jan 2021 13:57:00 +0000