Bitcoin is struggling to sustain any price level during the current pullback, indicating a lack of demand at higher levels. Does this mean that the bull trend is over and the institutional investors are abandoning the crypto markets? No! It is the other way around. Glassnode’s weekly newsletter pointed out that the Grayscale Bitcoin Trust (GBTC) premium is rising, suggesting that institutional investors are accumulating at lower levels.
Market capitalization: $1.56T (-1.61%)
The BTC dominance: 41.63% (+0.03%)
Fear & Greed Index: 18 (Extreme Fear)
Aggregated Volume — $45.5B
Aggregated Open Interest — $8.92B