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Institutional Investors’ Inflow Increase Despite Bitcoin Price Plunge

25 May, 20222 min readBitcoin
Institutional Investors’ Inflow Increase Despite Bitcoin Price Plunge

Bitcoin has managed to keep cryptocurrency investors calm by reclaiming the $30,000 barrier amid a catastrophic crypto market slump. Bitcoin Price has been trading around $30,000 over the past few days, dropping below this level on occasion but soon returning above it.

Bitcoin’s monthly return in April was -17.3 percent, and thus far in May, it’s been even worse, with a current return of -20.0 percent. According to a new filing with the US Securities and Exchange Commission, the Fidelity Investments Bitcoin Index Fund has raised a remarkable $126.56 million through its offers.

Bitcoin Shows A Bullish Sign Too Early

The bitcoin price rose 10% in less than 24 hours, creating a range between $28,575 and $31,493. BTC has always respected the standards and has never overstepped any of them. The sellers drove the huge crypto lower on May 24, smashing the bottom at $28,820. This was followed by a 6% increase, which is presently retesting the range’s midpoint of $30,034.

If the current rise continues, Bitcoin will most certainly make a run at the $30,759 highs. Bulls, on the other hand, might enter at this level and drive it higher, sweeping the range high at $31,493. While this is a positive move, BTC has not swept the range bottom at $28,575 and has started an uptrend prematurely.

As a result, a sweep of the range bottom will almost certainly be followed by a reversal to collect the liquidity that has accumulated below $28,575. If Bitcoin price does a U-turn around the $30,034 barrier to sweep the range low, the subsequent rebound will most likely be stronger. As a result, BTC might reach $35,000 as a result of this rally.

Meanwhile, if Bitcoin bulls fail and the currency forms a four-hour candlestick below $28,575, then it will set up a lower low and vanish Bitcoin’s bullish theory. In this event, the price of Bitcoin will plummet and retest the $27,708 support level.

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