Institutions Sold $5 Billion Bitcoin for the Past Two Months. Where Will the Crypto Head Next?

MarketWatch2022-07-27

Large institutions have sold more than 236,000 bitcoins over the past two months, or almost $5 billion worth of the crypto based on bitcoin's recent price, as it trades almost 70% lower from its peak ...

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Comments

T202311701
2022-07-27
T202311701
Ooo
runningjames
2022-07-27
runningjames
To gain back confidence is not easy and need a long times but to lost confidence is just a word.
Tiongwee
2022-07-27
Tiongwee
Like
xiaobaii
2022-07-27
xiaobaii
like & comment please
babyroxy
2022-07-27
babyroxy
👍🏻 Ok
- Tiongwee:
  Ok

Leave a comment

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Where Will the Crypto Head Next?","media":"MarketWatch","content":"<div>\n<p>Large institutions have sold more than 236,000 bitcoins over the past two months, or almost $5 billion worth of the crypto based on bitcoin's recent price, as it trades almost 70% lower from its peak ...</p>\n\n<a href=\"https://www.marketwatch.com/story/institutions-sold-5-billion-bitcoin-for-the-past-two-months-where-will-the-crypto-head-next-11658857571?mod=hp_LATEST&adobe_mc=MCMID%3D03250748340802259633376614514522268876%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1658887839\">Source Link</a>\n\n</div>\n","source":"lsy1603348471595","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Institutions Sold $5 Billion Bitcoin for the Past Two Months. 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Where Will the Crypto Head Next?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-27 10:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/institutions-sold-5-billion-bitcoin-for-the-past-two-months-where-will-the-crypto-head-next-11658857571?mod=hp_LATEST&adobe_mc=MCMID%3D03250748340802259633376614514522268876%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1658887839><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Large institutions have sold more than 236,000 bitcoins over the past two months, or almost $5 billion worth of the crypto based on bitcoin's recent price, as it trades almost 70% lower from its peak ...</p>\n\n<a href=\"https://www.marketwatch.com/story/institutions-sold-5-billion-bitcoin-for-the-past-two-months-where-will-the-crypto-head-next-11658857571?mod=hp_LATEST&adobe_mc=MCMID%3D03250748340802259633376614514522268876%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1658887839\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FT_SY_BTC","symbol_name":"CME比特币","start_time":0,"source_url":"https://www.marketwatch.com/story/institutions-sold-5-billion-bitcoin-for-the-past-two-months-where-will-the-crypto-head-next-11658857571?mod=hp_LATEST&adobe_mc=MCMID%3D03250748340802259633376614514522268876%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1658887839","article_id":"2254244558","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2254244558","pubTimestamp":1658888135,"sourceInfo":{"source_id":"lsy1603348471595","name":"MarketWatch"},"weMediaInfo":null,"summary":"Large institutions have sold more than 236,000 bitcoins over the past two months, or almost $5 billi","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"translate_title":"机构在过去两个月里卖出了50亿美元的比特币。密码下一步将走向何方？","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTCmain":0.9,"MBTmain":0.9,"GBTC":0.9},"content_text":"Large institutions have sold more than 236,000 bitcoins over the past two months, or almost $5 billion worth of the crypto based on bitcoin's recent price, as it trades almost 70% lower from its peak last November.Such institutions include Luna Foundation Guard, Tesla (TSLA) , and bitcoin  miners, among others, Vetle Lunde, analyst at Arcane Research wrote in a recent report.Bitcoin is trading at around $21,007, down 4.5% over the past 24 hours, according to CoinDesk data.ARCANE RESEARCHIn May, when TerraUSD, now TerraClassicUSD, a stablecoin that was supposed to trade 1 to 1 against US dollars, fell off its peg, Luna Foundation Guard sold more than 80,000 bitcoin in its reserves to defend it.Meanwhile, as crypto miners faced increasing pressure on their top lines, they sold 4,556 and 14,600 bitcoin in May and June, respectively, Lunde noted.In the second quarter, Tesla sold 75% of its bitcoin holdings, as the company aimed to maximize its cash position due to uncertainties around China's covid lockdowns. Arcane estimated that Tesla sold roughly 29,060 BTC at an average price of $32,209 during the period.The bankruptcy of hedge fund Three Arrows and crypto lender Celsius also put selling pressure on bitcoin, as the crypto market suffered from contagion. What's more, in June, the Canadian Purpose Bitcoin ETF  saw an outflow of more than 24,500 bitcoin, or roughly of half of its asset under management, in a day.Forced selling has mostly calmed down, noted Lunde. \"We will likely slump, pump, and dump in choppy conditions in the coming period, and macro and correlations will possibly resume being the key force of the market,\" he wrote. \"However, the reduced presence of dollar-indebted institutions (i.e Tesla and miners) might contribute to lifting some of the correlation forces.\"","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9909521660,"gmtCreate":1658890551950,"gmtModify":1676536224909,"author":{"id":"4115257325505790","authorId":"4115257325505790","name":"T202311701","avatar":"https://community-static.tradeup.com/news/816311e9879fbae4e952e2a5386f68ca","vip":1,"crmLevel":9,"crmLevelSwitch":0,"idStr":"4115257325505790","authorIdStr":"4115257325505790"},"htmlText":"Ooo","listText":"Ooo","text":"Ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9909521660","repostId":2254244558,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9909529824,"gmtCreate":1658890161368,"gmtModify":1676536224862,"author":{"id":"4117336023184202","authorId":"4117336023184202","name":"runningjames","avatar":"https://community-static.tradeup.com/news/3467c93ce8ec8c583f28f405e68f0c00","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":2,"crmLevelSwitch":1,"idStr":"4117336023184202","authorIdStr":"4117336023184202"},"htmlText":"To gain back confidence is not easy and need a long times&nbsp;but to lost confidence is just a word.","listText":"To gain back confidence is not easy and need a long times&nbsp;but to lost confidence is just a word.","text":"To gain back confidence is not easy and need a long times but to lost confidence is just a word.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9909529824","repostId":2254244558,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9909567205,"gmtCreate":1658889924307,"gmtModify":1676536224817,"author":{"id":"3573775111920367","authorId":"3573775111920367","name":"Tiongwee","avatar":"https://static.tigerbbs.com/e90910e406e67c77f42e225b16b69020","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573775111920367","authorIdStr":"3573775111920367"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9909567205","repostId":2254244558,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9909586027,"gmtCreate":1658888390269,"gmtModify":1676536224412,"author":{"id":"3571345352614779","authorId":"3571345352614779","name":"xiaobaii","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3571345352614779","authorIdStr":"3571345352614779"},"htmlText":"like &amp; comment please&nbsp;","listText":"like &amp; comment please&nbsp;","text":"like & comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9909586027","repostId":2254244558,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9909876333,"gmtCreate":1658858404022,"gmtModify":1676536218058,"author":{"id":"4101362810326630","authorId":"4101362810326630","name":"babyroxy","avatar":"https://static.itradeup.com/news/04b60b55b9b6d5e84c473e041bebfff5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4101362810326630","authorIdStr":"4101362810326630"},"htmlText":"👍🏻 Ok","listText":"👍🏻 Ok","text":"👍🏻 Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9909876333","repostId":2254244558,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":103095398,"gmtCreate":1658889936001,"gmtModify":1675837901487,"authorId":3573775111920367,"author":{"id":3573775111920367,"idStr":"3573775111920367","authorId":3573775111920367,"name":"Tiongwee","avatar":"https://static.tigerbbs.com/e90910e406e67c77f42e225b16b69020","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9909876333,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Ok</span>","text":"<span class=\"s1\">Ok</span>","html":"<span class=\"s1\">Ok</span>"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":53,"commentSize":5,"repostSize":0,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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