Indications suggest the return of large investors to the crypto market…details here
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Answer Indications suggest the return of large investors to the crypto market…details here
The founder of analytics platform CryptoQuant, based on the Coinbase Premium Index, said market sentiment in the US about the crypto market is starting to recover.
For the first time since the collapse of major cryptocurrency firm FTX, the index has climbed into the green.
The Coinbase Premium Index helps the crypto community understand the sentiments of the large investors who trade in the institutional and large-cap trading platform.Read:SEC files a lawsuit against a fraudulent crypto project marketed by a Hollywood star
Coinbase owns the majority, according to its Q3 report.
The index is rising due to the increased trading volume on the platform, which indicates the return of purchasing power and the start of accumulating positions in Bitcoin by these major players.
Can bitcoin go up?
The return of the cryptocurrency market to positive values is another confirmation of the optimistic sentiment.
Two days ago a massive accumulation of bitcoin emerged, with nearly 50,000 BTC bought by various investors over a five-day period in late November.
Earlier, a historic high was reached in the number of wallets holding between 0.1 and 10 BTC.
It can be said that the trend is clear and understandable. While fear ruled the cryptocurrency market, smart money took out its bags, caught the right moment and started buying.Read:Binance denies accusation of sharing user data with Russian agencies
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