Rise in Institutional Sized Capital Fueling Bitcoin Bull Market, According to Crypto Insights Firm Glassnode

Rise in Institutional Sized Capital Fueling Bitcoin Bull Market, According to Crypto Insights Firm Glassnode


Crypto analytics firm Glassnode says Bitcoin is witnessing a major spike in large transactions this year, indicating that deep-pocketed investors are fueling its 2021 resurgence.

During the 2019-2020 bear market, the average Bitcoin transaction size was $6,000-$8,000, and the period was dominated by retail investors and early investment fund participants, according to the firm.

 

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By comparison, the bull run between late 2020 and early 2021 has seen a surge in average transaction size, climbing all the way up to $58,600 during the May sell-off.

The average BTC transaction size has cooled off since and is now hovering between $30,000 and $36,000.

Explains Glassnode,

“Relative to the 2019-20 period, this represents a significant 370% increase, despite the recent correction, reflecting continued and sticky institutional sized interest.”

Source: Glassnode

The analytics firm adds that transactions larger than $10 million have grown to represent more than 30% of Bitcoin’s transaction volume dominance, up from 10% in October of last year.

“This

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