US institutions account for 85% of Bitcoin buying

January 30, 2023

Institutional investors are "not giving up on crypto," with recent data pointing to as much as 85% of Bitcoin buying being the result of American institutional players, according to one source.

The conclusion is based on data that distinguishes whether a digital asset is more favored by retail or institutional investors at any given time. The calculation is based on whether the asset is performing well during the United States or Asia's trading hours.

The report stated that if an asset that trades for 24 hours "performs well" during U.S. trading hours, it indicates that U.S. institutions are buying it; however, an asset that sees growth during Asian trading hours indicates that Asian retail investors are buying it.

Other findings from the report...

Jan. 27 snapshot of the Bitcoin Fear & Greed Index

The report cited that BTC is up 40% this year with 35% of those returns occurring during U.S. trading hours, meaning there is an "85% contribution" associated with U.S. investors and indicating that U.S. institutions are buyers of BTC right now.

The report concluded that this "should be a very positive sign for Bitcoin" as institutional adoption continues.

Get the full story by reading the complete article on Cointelegraph.

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