Institutional Investors Remain Bearish As Short Bitcoin Sees Record Inflows
06 Luglio 2022 - 1:00AM
NEWSBTC
Bearish sentiment toward Bitcoin among institutional investors has
been gaining ground in recent months. This was propelled even
further by the crash that rocked the digital asset back in
mid-June. Since then, bitcoin has struggled to keep its head above
the $20,000 level, and as it continues to fail, bearish sentiment
has grown rampant. This is evident in the short bitcoin inflows
that were recorded for last week. Record Numbers For Short Bitcoin
The latest CoinShares report has shown that institutional investors
are only investing in bitcoin for the short term, and what’s more,
they believe that the digital asset is set to decline more. It
shows that inflows into the short bitcoin ETFs had hit their
highest point since its inception with $51 million for the previous
week. Related Reading | Mounting Support For Bitcoin At
$19,000 As Market Ushers In A New Week The ProShares short BTC ETF
is the latest in line for these types, and while it had seen
significant inflows for the prior week, it was chalked up to the
fact that the ETF had just launched. However, last week has put
into perspective how institutional investors are viewing bitcoin
going forward. To put this in perspective, while inflows for short
bitcoin had come out to $51 million for the 7-day period, bitcoin
had only recorded $0.6 million in inflows. The digital asset had
narrowly missed recording another week of outflows with one of the
lowest inflows ever recorded. BTC falls to $19,500 | Source: BTCUSD
on TradingView.com Compared to the prior week’s inflows of $15
million, the inflow into short bitcoin had grown a total of 240%.
It is one of the most obvious indicators that institutional
investors do not expect the price of bitcoin to recover anytime
soon. Institutional Investors On Altcoins The bearish sentiment on
bitcoin on the part of these institutional investors has been
relegated to bitcoin only. The CoinShares report shows that
altcoins had seen continued inflows. Ethereum which had suffered
almost three months of outflows had recorded its second consecutive
week of inflows with a total of $5 million. Other altcoins
such as Solana, Polkadot, and Cardano, all competitors for
Ethereum, also recorded inflows. Their figures came out to $1
million, $0.7 million, and $0.6 million respectively for last week.
This indicates that institutional investors are forecasting a
better future for these assets compared to bitcoin. Related
Reading | Active Ethereum Addresses Touch 2020 Levels, Will
Price Follow? The Multi-asset investment products were not left
out. A total of $4.4 million flowed into them and it has continued
to hold its ground even through the bear market, with only 2 weeks
of inflows recorded in the space of six months. One noteworthy
thing is that the bearish sentiment seems to be more prominent in
institutional investors in the United States. Other regions had
recorded better inflow numbers into long investment products which
had come out to $20 million for the week. The report notes
that this may be due to the fact that short bitcoin ETFs had become
available in the US for the first time. Hence, investors are
rushing to take advantage of the new fund. Featured image from
BTCC, chart from TradingView.com Follow Best Owie on Twitter for
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