Already a subscriber?The flood of billions of dollars in institutional money in the bitcoin market in the months leading up to the digital currency’s next halving could alter the impact of the landmark events going forward, according to Australian crypto traders.
“In the lead-up to previous halving, the bitcoin price was around 30-40 per cent below its all-time high. But this time it’s only just below its all-time from a month or so below,” he said.“That’s really because of the ETF impact and the event has become much more widely known to investors – we’ve seen in our conversations from family offices and individual investors.”
The strong run in the first quarter helped propel bitcoin-holding funds to chart some of the strongest returns – compared to more traditional investment strategies – according to data from Morningstar.