{"id":321443,"date":"2021-08-11T12:00:00","date_gmt":"2021-08-11T09:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/institutions-are-buying-bitcoin-like-its-late-2020\/"},"modified":"2021-08-11T12:00:00","modified_gmt":"2021-08-11T09:00:00","slug":"institutions-are-buying-bitcoin-like-its-late-2020","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/institutions-are-buying-bitcoin-like-its-late-2020\/","title":{"rendered":"# Institutions are buying Bitcoin like it&#8217;s late 2020"},"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-6a34be4340d44\" 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-6a34be4340d44\" 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-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/institutions-are-buying-bitcoin-like-its-late-2020\/#Institutions_repeat_Q4_2020\" >Institutions repeat Q4 2020<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/institutions-are-buying-bitcoin-like-its-late-2020\/#Accumulation_in_action\" >Accumulation in action<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Institutions are buying Bitcoin like it&#8217;s late 2020 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) reserves on derivatives exchanges have dropped to levels last seen before the May price crash.<\/p>\n<p>Data from on-chain analytics service <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/overview\/btc-exchange-flows\">CryptoQuant<\/a> confirmed that as of Aug. 10, derivatives reserves totaled 1.256 million BTC \u2014 the least since May 11.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutions_repeat_Q4_2020\"><\/span>Institutions repeat Q4 2020<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Against a backdrop of institutional interest returning to cryptocurrency instruments such as the Grayscale Bitcoin Trust (GBTC), figures show that major players have in fact been adding to their BTC holdings throughout the downturn.<\/p>\n<p>\u201cBig money has been buying,\u201d analyst William Clemente <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1425123720130142217\">commented<\/a> this week. <\/p>\n<p>Exchange balances prove the point, with derivatives platforms seeing a repeat of the trend last witnessed at the end of 2020.<\/p>\n<p>Even during the most intense phase of the BTC bull run this year, derivatives balances conversely grew \u2014 a decreasing balance characterized only the very beginning of the run to $64,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/63e7cb99-1077-4099-8b5b-aaa389a9d3d2.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin derivatives exchange reserves chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>\u201cSince May 19th, entities with 10K-100K BTC have added +269,450 to their holdings ($12.1B),\u201d Clemente added, highlighting further data. <\/p>\n<blockquote><p>\u201cThese entities have between $450M-$4.5B of their capital allocated to Bitcoin.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/1cf2de19-2a16-4f71-90bc-1fded6d62f79.png\"><figcaption style=\"text-align: center;\"><em>10,000-100,000 BTC entity growth chart. Source: William Clemente\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Accumulation_in_action\"><\/span>Accumulation in action<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutions have not been put off by any overriding narrative from within or beyond cryptocurrency, these including China\u2019s miner rout since May or the ongoing saga over the United States\u2019 infrastructure bill.<\/p>\n<p><strong><em>Related:\u00a0One Bitcoin now buys 0.6 kilograms of gold as 10-year returns turn negative<\/em><\/strong><\/p>\n<p>As Cointelegraph previously reported, retail exchange balances have already been heading lower for some time.<\/p>\n<p>As of Tuesday, the total exchange balance figure stood at 2.44 million BTC, also a three-month low.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/e6d920a0-3f37-4025-92ef-d11fd68a1b02.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin all exchanges reserves chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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\/institutions-are-buying-bitcoin-like-it-s-late-2020\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Institutions are buying Bitcoin like it&#8217;s late 2020 &#8221; Bitcoin (BTC) reserves on derivatives exchanges have dropped to levels last seen before the May price crash. Data from on-chain analytics service CryptoQuant confirmed that as of Aug. 10, derivatives reserves totaled 1.256 million BTC \u2014 the least since May 11. Institutions repeat Q4 2020&#8230;<\/p>\n","protected":false},"author":1,"featured_media":321444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvZWE2OGNiNmYtNGM4ZC00ZDFkLWE4YWItOWZkZjQ0MDM2MzNhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-321443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/321443","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=321443"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/321443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/321444"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=321443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=321443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=321443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}