Bitcoin and crypto market crash over the past couple of days saw nearly $500 billion getting wiped out of the crypto market cap as major cryptocurrencies fell over 30%. The Wednesday crash brought back memories of last year’s March mayhem when Bitcoin and altcoins fell over 50% in a single day. The market mayhem led to the liquidation of over $8 billion worth of leveraged positions as well. However, the price crash also brought a perfect investment opportunity and it seems Hedge Funds and big whales were the first to grab the opportunity.
As per Chainalyis data institutional investors bought the dip and also helped the free fall in price to rebound most of the losses within 24-hours of the crash. The data indicate these Hedge Funds and big players bought 34,000 Bitcoin on Tuesday and Wednesday after selling nearly $2 billion worth of Bitcoin holdings over the past two weeks.
Bitcoin and Crypto Market On-Road to Recovery
The major crash on Wednesday saw Bitcoin price fall to $30,000 l
Źródło: https://coingape.com/chainalysis-data-shows-hedge-funds-bought-the-bitcoin-dip/
