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Bitcoin ($BTC), which began its downward trend last October, fell as low as $60,000 in February.
While investors are selling at a loss during these declines, CoinShares stated in its latest report that the $BTC drop has not yet shaken institutional investors.
European-based crypto asset manager CoinShares stated in its latest report that despite the sharp declines in Bitcoin, institutional investors did not engage in panic selling.
According to CoinShares analyst Matt Kimmell, institutional investors did not engage in panic selling during the initial stages of Bitcoin’s decline. These professional investors and asset managers reduced their Bitcoin positions only modestly.
As hedge funds reduce their leverage to shift to other markets, their overall Bitcoin positions remain at similar levels to last year.
The analyst also noted that global Bitcoin ETF inflows remained positive in the fourth quarter, and that the sell-off in the fourth quarter stemmed from long-term investors taking profits rather than new institutional capital exiting the market.
The report also noted that long-term investors, including foundations, pension funds, and sovereign wealth funds, continue to quietly accumulate $BTC.
*This is not investment advice.
cointelegraph.com
coinfomania.com
