The crypto currency market received a heavy blow after US President Donald Trump announced a new custom tariff. Bitcoin $83,287.54 While the price fell to the level of 82 thousand dollars, the bulls tried to protect the threshold of 83 thousand dollars, but this was not permanent. Despite this sudden decline in the market, corporate interest in Spot Bitcoin ETFs has returned rapidly. In the last 24 hours, the Spot Bitcoin ETFs has been a total of $ 220 million entrance.
Strong Corporate Demand is Returning to ETFs
ETFs, which started weak week, recovered rapidly as of April 2. Fidelity’s FBTC The product is 119 million dollars, Ark Invest’s ARK ETF‘s 130 million dollars worth of entry. But Blackrock, one of the biggest players in the market IBIT The product was $ 116 million out of the same day. Nevertheless, the general picture shows that large investors consider short -term risks and evaluate the price decrease as an opportunity to purchase.
It is clear that the interest of corporate investors on the market is not limited to ETFs. The total of the public companies BTC The amount reached 696 Bi 456 BTC. The fact that only 8 different companies buy 26 thousand 303 BTCs last week reveals that long -term belief in the largest crypto currency. Strategy and Japan -based Metaplanet This purchase is leading in the fury.
Although the price is wavy, the demand is strong
While Trump’s tariffs upset the markets Bitcoin price From 88 thousand dollars to 81 thousand dollars fell. However, there was a huge increase in 85 percent of the transaction volume and the volume increased to 54 billion dollars. This shows that investors are not completely withdrawn from the market, on the contrary, they make intensive purchase and sale. Currently, the BTC is trading around 83 thousand 394 dollars and the market value is at $ 1.65 trillion.
Crypto currency analyst Ali Martinez He pointed out that there was a critical transaction range in Bitcoin. According to the analyst, 86 thousand 900 to 84 thousand 800 dollars of short term direction determination is of great importance in terms of determination. Martinez said that breaking this threshold up or downward can determine the next major movement. The purchasing direction of corporate investors reinforces the likelihood of a upward breaking.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
