Simply Bitcoin: Proof: Huge Institutions Bought the Bitcoin Dip

Cryptocurrencies have had a large move higher from their June lows. Bitcoin has rallied over 40 percent. Ethereum doubled off its lows. And crypto-related stocks shot significantly higher as well.

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While this could simply be how this sector performs in a bear market rally, other signs point to long-term strength for cryptocurrencies. The biggest sign is that institutions have been buying the dip in the crypto space, largely in Bitcoin.

That follows up on news that BlackRock (BLK) is partnering with Coinbase (COIN) to add Bitcoin to client accounts in the months ahead.

However, data from funds indicates that they’ve been actively buying cryptocurrencies during the current bear market. That’s in contrast to investing in companies that are developing cryptocurrency technologies.

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While this trend is playing out, the data suggests that retail investors are largely staying away from the space. History shows a surge in retail interest after a large move higher, which helps fuel even more volatility.

It’s true that crypto prices could trend down a bit following their latest rally higher. But with institutions adding to their holdings now, and given how some cryptocurrencies like Bitcoin have a very limited supply, the next move higher could be extreme. Investors interested in the cryptocurrency space may want to consider buying now.

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To see the full analysis on institutional buying in Bitcoin and crypto, click here.