Institutional investors remain fragmented in the crypto market, with little inflow and outflow.
The price of Bitcoin stabilized at $25,820. Bitcoin remains under selling pressure after losing support below $26,000 earlier this week. But for few traders, this would be a good time to buy dips.
The latest data from CoinShares shows that institutional investors remain divided in the cryptocurrency market, with moderate inflows and outflows over the past week. This is encouraging news for Bitcoin’s long-term viability, as it indicates a shift towards more stable and professional investment behavior.
Over the past day, Bitcoin has been in the red, falling below the $26,000 mark. Most altcoins have a similar fate. Just a week ago, BTC prices saw a significant increase in months. Grayscale’s victory against the SEC in a US court led to an increase that took the price to almost $28,000.
Probably still falling? But after the SEC decided to delay a decision on all pending Bitcoin ETF applications, the excitement quickly dissipated. Bitcoin fell by $1,000 the next day and another $1,500 the day after. At the time of writing, Bitcoin is trading at $25,765, down 0.74% in the last 24 hours, according to CMC. Additionally, BTC trading volume increased by 12.56%.
The price is consolidating around the $25,820 level. If the price can clearly break above the support level of $25,150, a decline is likely. The next level of support would be $22,430. On the other hand, if the price can break the resistance above $26,000, a new rally to $27,000 is on its way.