‘Long Bitcoin’ Is World’s Most 'Crowded' Trade: Bank of America Survey

A bullish bet on the cryptocurrency was also the most crowded trade in January.

AccessTimeIconMay 18, 2021 at 1:58 p.m. UTC
Updated Sep 14, 2021 at 12:57 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

“Long bitcoin” is once again the most "crowded" trade in financial markets, according to a new survey by Bank of America.

  • The survey of 194 funds managers with $592 billion worth of assets under management overall found that a bullish bet on cryptocurrency is the most crowded trade in the world at the present time, Bloomberg reported Tuesday. A "crowded trade" refers to when a vast majority of traders make the same bet.
  • “Long bitcoin” also topped Bank of America’s survey in January, before being pushed into second place the following month behind “long tech.”
  • The survey notes that the designation as the most crowded trade has historically been associated with relative tops, such as for tech in September 2018 and September 2020 and the U.S. dollar in February 2015 and January 2017.
  • But that hasn't been the case when bitcoin has been the most crowded. January was followed by still higher climbs for the world’s largest crypto in February. 


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.