Retail Investors Are Buying the Bitcoin Institutions Are Selling, Traders Say
As institutions unload bitcoin, crypto’s traditional base – retail investors – is doing most of the buying, market participants said.
The March 12 crash is still fresh in crypto traders’ and fund managers’ minds, leaving some to think no trading decisions are the best decisions for now.
Open interest in XBT/USD on BitMEX has crashed by over 50 percent from 115,000 BTC to 55,000 BTC over the past 12 days.
HDR Global Trading has supported bitcoin maintainer Michael Ford since he was appointed last summer.
Traditional markets continue to struggle during the coronavirus crisis while cryptocurrencies are seeing an upswing.
Prices in the crypto market are seeing such a steep upward trend that arbitrage traders are able to trade between exchanges to easily capture profit.