Large Investors Continue Buying Bitcoin Despite Increased Volatility

Bitcoin Whales have continued to climb this week despite the largest drop in 10 months, according to network data..

The information on the Glassnode website shows that the number of addresses that store at least 1,000 BTC has been steadily increasing since the beginning of this year. At the same time, the analytical company CryptoQuant reports on the maintenance of high network activity and the implementation of the majority of transfers in a series of OTC transactions, preferred by institutional investors..

One example is the business intelligence firm MicroStrategy, which bought 314 BTC during the recent recession for $ 10 million. .

CryptoQuant also claims that 93% of bitcoin transactions are currently OTC transactions..

Large Investors Continue Buying Bitcoin Despite Increased Volatility

According to OKEx Insights, since September the share of transfers over 1,000 BTC has fluctuated around 45%, which is 9 times more than the June figure of 5%. According to analysts, this confirms that in the fall, institutional players broke into the market and continue to show high interest in it, buying up digital assets at lower prices during periods of recession..

At the time of publication, the bitcoin rate is $ 32 947, having risen by 5.95% over the last 24 hours.

text: Ivan Malichenko, photo: Shutterstock

Large Investors Continue Buying Bitcoin Despite Increased Volatility

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