Big Traders Holding Back as Crypto Experiences “Most Hated Rally,” Says CoinShares Executive
Meltem Demirors, the chief strategy officer of market intelligence firm CoinShares, believes that institutional investors and retail traders are still hesitant to enter the crypto market. In an interview with CNBC Television, Demirors stated that big traders and macro desks have yet to start buying, indicating that there is still a significant number of institutional investors waiting on the sidelines. Demirors also referred to the current rally in the digital assets industry as the “most hated rally,” explaining that many people are tired of hearing about cryptocurrencies due to the negative events that occurred in 2022, such as bankruptcies and fraud cases.
Crypto Market Cap Shows Growth
According to TradingView, the total market cap of crypto assets has increased from $1.06 trillion on October 23rd to $1.60 trillion at present. This growth suggests that despite the skepticism surrounding the current rally, the crypto market is experiencing upward momentum.
Hot Take: The Crypto Market’s Resilience
Despite being dubbed the “most hated rally,” the crypto market continues to defy expectations and show resilience. Institutional investors may still be cautious, but the increasing market cap indicates that there is ongoing interest and demand for digital assets. While negative events have impacted sentiment in the past, the market’s ability to bounce back demonstrates its potential for growth and recovery. As crypto enters a new phase, it will be interesting to see how both retail and institutional investors respond to this evolving landscape.
By
By
By
By
By