As you probably know by now, regulators are having their eyes set on the crypto markets for a long time now.
CoinDesk just revealed something that’s very bullish for the crypto space.
Institutional investors aren’t batting a lash at lawmakers and regulators’ increasing scrutiny of crypto markets.
Large investors fueled #bitcoin‘s nearly 20% gains since last week.
— CoinDesk (@CoinDesk) August 11, 2021
Bitcoin accumulation continues
Just the other day, we were revealing that Bitcoin accumulation has exploded this year and big investors continue to enter the crypto market.
It’s been revealed by analyst will Clemente that big money continue to enter the crypto space, especially Bitcoin.
Big money has been buying. Since May 19th, entities with 10K-100K BTC have added +269,450 to their holdings. ($12.1B)
These entities have between $450M-$4.5B of their capital allocated to Bitcoin. pic.twitter.com/Sv1xZfUukC
— Will Clemente (@WClementeIII) August 10, 2021
He also noted that “Whale activity is also evident by the increase of transfer volume >$10M.”
Bitcoin in the crypto market
At the moment of writing this article, BTC is trading in the red and the king coin manages to stay above the important level of $45k. BTC is currently priced at $45,369.
The important analyst said that Bitcoin is still undervalued these days.
Will Clemente recently said that Bitcoin remains undervalued based on the strength of its on-chain fundamentals.
“In blue, illiquid supply shock ratio, which compares the movement of coins from liquid (weak hands) entities to illiquid (strong hands) entities. In purple, exchange supply shock ratio, which compares the amount of supply held on exchanges relative to overall circulating supply. Both of these are trending strongly upwards, with price lagging behind.”
He continued and said: “The little guys have been buying BTC like crazy. Their holdings have not only increased as a percentage of overall supply, but also as a percentage of supply held by entities with little spending history (strong hands).”