By Max S - Cryptocurrency Enthusiast - 11-08-2021
The availability to buy Bitcoin (BTC) has drastically decreased on the futures market and has recently hit its low point in mid-May. The initial decrease in May was due to the crypto crackdown in China. For a different reason, Bitcoin reserves on derivatives markets have fallen again to levels not seen since the initial price meltdown of the year.
According to a report on an analytics platform, CryptoQuant, data shows that on Tuesday this past week, derivatives reserves totalled a shockingly low 1.256 million BTC.
While the fall in price for buying Bitcoin continues, figures reveal that large players have increased their BTC holdings during the slump. Investors who continue to add and buy more Bitcoin investments come while institutions turn back to cryptocurrency products like the Grayscale Bitcoin Trust (GBTC).
One particular analyst took to Twitter to comment on the situation while simply stating, "big money has been buying," this statement appears to be regarding how many organizations have been making large Bitcoin transactions lately.
The crypto analyst, William Clemente III, further went into detail and explained how "entities with 10K-100K BTC have added +269,450 to their holdings ($12.1B)," these figures were a result of after the initial crypto crash on 19th May as more investors put more money into the market. William further mentions how companies investing in Bitcoin have now dedicated around $450M to $4.5B of their capital to the crypto coin giant. These organisation's investments may be one of the leading factors for Bitcoin gaining momentum again after the worst crash in May.
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