Recently, Strategy, a large institutional investor, acquired 10,000 $BTC for approximately $1.2 billion. However, despite the significant volume, the Bitcoin market remained stable, with no noticeable increase in price. Why did this happen? Analysts explain this by several factors.
Firstly, the Bitcoin market has become more mature and liquid. According to Glassnode data, the daily trading volume of BTC exceeds $40 billion, allowing for the absorption of large trades without significant price fluctuations. Secondly, the purchase by Strategy was made through over-the-counter (OTC) transactions, which do not directly reflect on the exchange order books, minimizing the impact on the spot price.
In addition, the increase in the supply of stablecoins, such as $USDT, by $3 billion over the month, according to CryptoQuant, provides additional liquidity that stabilizes the market. It is also worth noting that some investors hedge their positions through options, which restrains volatility. For example, the open interest in put options on Deribit increased by 15% over the week.
Thus, the modern market is capable of absorbing even large investments without sharp price jumps. Keep an eye on the trends to stay informed!
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