Institutionalized Bitcoin

by Ben Lilly

5.5% of Bitcoin is Institutionalized

We're here years before the institutions.

That's one of the unique qualities of Bitcoin and crypto as a whole. Retail had the first go at getting involved.

With most asset classes, the pin-striped suits of New York's financial district are able to get in before the masses and find ways to unload their overvalued products onto retail.

While that might still become the case with Bitcoin and crypto, we're still in a unique position to watch their entry into this space. This gives us a tremendous leg up. That's because we're able to watch their habits.

When does a firm announce its newly accumulated holdings? Days, weeks, or months after their holdings are finalized?

When do they sell? When do they advertise the benefits of the asset in relation to when they buy and/or sell?

Knowing these habits give early entrants like us a leg up. It enables the watchers to front-run the institutions thanks to the transparency of blockchains.

The newest entrant is Anthony Scaramucci’s SkyBridge Capital investment firm. They just announced a $182 million investment in Bitcoin.

SkyBridge now joins a growing list of public treasuries holding bitcoin that makes up nearly 5.5% of all Bitcoin in circulation. A number growing by the week. Meaning Bitcoin is becoming institutionalized faster than most realize.

One interesting stat: 2.7% of all BTC are held by Grayscale according to bitcointreasuries.org.

So here we sit while Institutions are getting in... and we can watch their movements. We can see when institutions are selling. And we can label wallets that correspond to these entities. Knowledge is power, and for us, this knowledge is reliable income.

We track wallets and pair it up with over 80 metrics, technicals, funding rates, and a whole lot more in order to gain an edge in the market. As far as what the market is looking like now...
Market Update
The other day we alerted you of Tether minting $200 million of USDT. New funds are a bullish sign since that translates to more fuel and buying power in the market.

Over the last 36 hours, those funds were sent to wallets that correspond to higher prices for both BTC and ETH. We've witnessed its effect already.

Looking forward...

In the past year, 9 out of 11 times the monthly open has resulted in a (mini/large) correction before a price rise. Including the March black Thursday. Additionally, we are heading into the Quarterly Open. Much more volatility to come. The correction could be as small as 5% or 30%, would depend upon the selling/buying pressure that comes in. Nevertheless, weekly RSI is around 90. Time to protect your positions and be prepared for dips to buy back in.

Your pulse on crypto,

B. Lilly

p.s. - Be safe tonight!

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