• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis BTC

Data Shows Institutions are Buying Bitcoin Above $30,000 Despite Turbulence

Cole Petersen by Cole Petersen
2 weeks ago
in BTC
Reading Time: 2min read
Bitcoin
Advertisement
Listen to Article
  • Bitcoin’s price action has been quite mixed as of late, with buyers and sellers both vying for control over the cryptocurrency’s trend
  • Over a mid-term time frame, bulls are clearly in control and are showing no signs of letting up to bears anytime soon
  • Where the market trends in the mid-term will likely depend on whether Bitcoin once again starts rallying independent of the rest of the market
  • If altcoins cede some of their strength in the short-term, it could fuel a rise past all-time highs
  • Although BTC’s price is relatively high compared to where it was just a few months ago, on-chain data seems to indicate that large whales are still flooding into BTC at a rapid pace

Bitcoin has seen some wild price swings over the past few days, plunging to lows of $30,000 just a few days ago before rocketing up to highs of $33,500 this morning.

The cryptocurrency is showing few signs of weakness at the moment, with bulls slowly but surely pushing the cryptocurrency higher as they target further near-term upside.

Where the entire market trends in the mid-term will undoubtedly depend on Bitcoin and whether or not it can create tailwinds for Ethereum and other altcoins.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

One on-chain analyst is now noting that data indicates that whales and institutions are still flooding into Bitcoin despite its relatively high prices. This indicates that upside could be imminent.

Bitcoin Gains Steam as Market-Wide Rally Continues 

At the time of writing, Bitcoin is trading up just under 6% at its current price of $33,770. This marks a massive rise from its recent lows of $30,000 set just a couple of days ago.

The entire market is moving higher in tandem with BTC, with Ethereum and most major DeFi altcoins gaining some serious momentum.

Bitcoin does appear to be vying for a move to its previous all-time highs, but it remains unclear as to whether or not it will gain enough momentum to shatter this level in the short-term.

Institutions are Still Buying BTC Despite Rally

Institutions are continuing to fuel the cryptocurrency’s growth, showing no signs of slowing down their newfound Bitcoin accumulation habits.

One analyst explained in a recent tweet that data indicates institutions are still bidding up Bitcoin’s price.

“FYI, Coinbase outflow on Jan 2 was an all-time high. It seems institutions bought BTC when the price above 30k. BTC bull market isn’t over.”

Bitcoin

Image Courtesy of Ki Young Ju. Source: CryptoQuant.

This means that Bitcoin is unlikely to see any immediate trend change, although its uptrend may wane once this class of buyers grows content with their positions.

Featured image from Unsplash.
Charts from TradingView.
Tags: btcusdBTCUSDTxbtusd
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin

Bitcoin Tests a Critical Resistance Following Overnight Rebound; What’s Next?

2 hours ago
TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

15 hours ago
bitcoin altcoins

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

18 hours ago
evening star bitcoin

Evening Star: Reversal Pattern Could Sunset Bitcoin Price Action For Weeks

22 hours ago
Bitcoin

TA: Bitcoin Struggles Below $36K, Why BTC Could Extend Losses

2 days ago
bitcoin peter brandt parabola breakdown

Career Trader Subtly Hints Of Bitcoin Parabola Breakdown With Fractal Diagram

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.