US EditionInstitutional investors continue to scoop up Bitcoin above $100K
- Bitcoin surpassed the $100,000 level on May 8, supported by strong inflows into major spot Bitcoin ETFs and direct institutional purchases.
- The price rise was driven by consistent purchases from major financial entities such as hedge funds and asset management firms, as evidenced by net money flowing into Bitcoin ETFs and reported acquisitions of Bitcoin.
- Data showed that large investors accumulated approximately 41,300 BTC over the past 30 days while social engagement and miner holding rates increased, indicating growing market interest and reduced selling pressure.
- The ARK 21Shares ETF led ETF inflows with $54 million on May 7, while BlackRock bought over 86 BTC worth $8.4 million, supporting a market correlation with Nasdaq tech stocks at 0.75 during the rally.
- These trends suggest continued institutional accumulation and strong demand could sustain Bitcoin's price above $100,000 unless disrupted by major macroeconomic or geopolitical shocks.
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12 Articles
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