In recent months, Bitcoins price has seen a surge, increasing by 45% in just one month. This spike in value has many investors and traders paying close attention, but it appears that the support from key market players is not there. According to CryptoQuant, a leading cryptocurrency data provider, institutional investors and whales have not increased their assets or shown significant purchases, indicating a lack of support for the current price increase.
Institutional investors play a crucial role in the cryptocurrency market, and their actions can greatly influence the value of Bitcoin and other digital assets. However, CryptoQuants investigation of assets held by banks, exchanges, and miners, as well as the outflow of whales from exchanges, suggests that these key players are not backing the current price increase. This could present a roadblock for Bitcoin as it faces numerous resistances and needs support from these influential market participants to break through and continue its growth.
Source:
https://azcoinnews.com/lack-of-support-from-whales-and-institutional-investors-a-potential-threat-to-bitcoins-price-increase.html