Bitcoin News Update: Crypto at a Turning Point: Major Investor Acquires $2.3B While $3.8B Leaves ETFs
- Bitcoin's RSI hit a 2022 low (33), signaling extreme oversold conditions as institutional buyers and crypto whales re-enter the market. - Ark Invest led $79. 3M in crypto stock purchases (Bullish, Circle , Bitmine) while U.S. spot Bitcoin ETFs saw $3.79B in November outflows. - Whale accumulation added $2.3B in BTC (26,300 coins) but contrasted with BlackRock's $523M IBIT redemption and Owen Gunden's $1.3B BTC liquidation. - Market analysts highlight conflicting signals: Ark's "buy the dip" strategy vers
Bitcoin's weekly Relative Strength Index (RSI) has dropped to its lowest point since 2022, indicating that the asset is now extremely oversold as significant investors return to the market. With the RSI at 33—a metric that tracks price momentum—the data highlights a steep decline that has left Bitcoin trading 30% below its October high. Despite the recent volatility, institutional investors and large holders are moving back in, with
Over the past two days, Ark Invest has significantly increased its exposure to crypto-related stocks, acquiring close to $40 million in shares from companies like Bullish,
Market swings have been pronounced. The CoinDesk 20 index, which tracks leading crypto companies, dropped more than 4.7% on November 21, while
Yet, not all signs are positive. U.S.-listed spot Bitcoin ETFs have experienced $3.79 billion in outflows this month, with BlackRock's IBIT alone seeing a single-day withdrawal of $523 million. Institutional caution is evident, as shown by
The mixed signals reflect a market at a pivotal moment. While
Currently, Bitcoin's RSI sits at a crucial level. Historically, such oversold conditions have often preceded extended recoveries, as was the case in late 2022. Whether this downturn signals the beginning of a prolonged bear phase or sets the stage for a rebound will depend on whether institutional buying and whale accumulation can counterbalance ongoing redemptions and skepticism
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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