{"id":251155,"date":"2021-05-16T22:55:31","date_gmt":"2021-05-16T19:55:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-slips-below-46k-as-correction-deepens-institutions-keep-accumulating\/"},"modified":"2021-05-16T22:55:31","modified_gmt":"2021-05-16T19:55:31","slug":"bitcoin-slips-below-46k-as-correction-deepens-institutions-keep-accumulating","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-slips-below-46k-as-correction-deepens-institutions-keep-accumulating\/","title":{"rendered":"# Bitcoin slips below $46K as correction deepens; institutions keep accumulating"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c8a5f13fc6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c8a5f13fc6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-slips-below-46k-as-correction-deepens-institutions-keep-accumulating\/#Institutions_are_accumulating\" >Institutions are accumulating<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin slips below $46K as correction deepens; institutions keep accumulating <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) price slipped below $46,000 on Sunday for the second time in four days, raising the specter of a deeper short-term correction for the flagship digital currency.<\/p>\n<p>Bitcoin fell to a session low of $45,127.01, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">according<\/a> to TradingView, before staging a modest recovery to around $45,400. The largest cryptocurrency by market capitalization is down 5% on the day and over 20% in the last seven days. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/9ba4b05d-891e-4e4d-983b-fbed285f672f.png\"><figcaption style=\"text-align: center;\"><em>The Bitcoin price braces for short-term volatility. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The selloff in BTC contributed to a market-wide correction for crypto assets, as Ethereum (ETH) fell 7%, Polkadot (DOT) declined 10% and Binance Coin (BNB) edged down 3%. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/61111c7f-2d4b-40d0-be5b-a0986ed19fc4.png\"><figcaption style=\"text-align: center;\"><em>The crypto selloff intensified on Sunday, as the total market capitalization of all assets fell from a high of $2.3 trillion all the way down to $2.1 trillion. <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/\"><em>Source<\/em><\/a><em>: Coin360<\/em><\/figcaption><\/figure>\n<p>Market sentiment towards cryptocurrencies has soured in recent days after it was revealed that Tesla is no longer accepting Bitcoin payments for its automobiles. Headlines about a possible investigation into Binance by the United States Justice Department have also raised concerns about a potential regulatory backlash. <\/p>\n<p>Meanwhile, Caitlin Long of Avanti digital bank believes that Tether\u2019s first-ever reserve disclosure has spooked investors. In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread posted on Saturday, Long <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CaitlinLong_\/status\/1393651168681676801\">said<\/a> Tether\u2019s \u201cprobability of default [and] loss severity in default just went up\u201d because of its credit exposure. Namely, almost two-thirds of the company&#8217;s cash and cash equivalents are stored in commercial paper.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Institutions_are_accumulating\"><\/span>Institutions are accumulating<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Despite all the noise in the market today, institutions are accumulating Bitcoin with ever-growing conviction, offering compelling evidence that the bull market is far from over. <\/p>\n<p>Bitcoin Treasuries, which tracks corporate and institutional exposure to BTC, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1393636391066628102\">reported<\/a> Saturday that institutions have accumulated 215,000 Bitcoin in the past 30 days. That\u2019s equivalent to roughly $10 billion. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Institutions have accumulated 215,000 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> in the past 30 days.<\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1393636391066628102?ref_src=twsrc%5Etfw\">May 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Corporations with Bitcoin on their balance sheets have generated a significant return on investment. As Bitcoin Treasuries <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BTCtreasuries\/status\/1392481800220446720\">reported<\/a> on May 12, the value of MicroStrategy\u2019s BTC reserve has grown by 2.3 times. The value of Square\u2019s Bitcoin stash is up 2.1 times. Riot Blockchain\u2019s holdings have increased in value by 9 times. These figures have declined slightly amid the latest market correction. <\/p>\n<p>Institutions have been flooding Bitcoin for the better part of a year. These so-called smart money investors are one of the biggest reasons for BTC&#8217;s ascent from just $10,000 last summer to a high of around $64,000 in April.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-slips-below-46k-as-correction-deepens-institutions-keep-accumulating\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin slips below $46K as correction deepens; institutions keep accumulating &#8221; Bitcoin (BTC) price slipped below $46,000 on Sunday for the second time in four days, raising the specter of a deeper short-term correction for the flagship digital currency. Bitcoin fell to a session low of $45,127.01, according to TradingView, before staging a modest&#8230;<\/p>\n","protected":false},"author":1,"featured_media":251156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvZWQzODg1MjktYzBmYi00MTVlLTkyY2ItM2M1YTQ2Y2Q3YTU1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74863,74355,71391],"class_list":["post-251155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-adoption","tag-department-of-justice"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/251155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=251155"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/251155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/251156"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=251155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=251155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=251155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}