Bitcoin Falls Amid Slow Trading Activity, Soft Institutional Demand

Dow Jones
08/18

0205 GMT - Bitcoin falls in Asian trading, down 0.4% at $64,124,92. Prices remain range-bound despite a modest rebound over the past week, Glassnode Research analyst Chris Beamish says. Trading activity continues to slow, suggesting limited liquidity and a lack of sellers willing to make big bets on bitcoin, he says. Demand from institutional investors is also soft, with trading in bitcoin ETFs falling alongside net capital outflows, leaving regulated investors sitting on only small paper gains. Overall, bitcoin remains caught between continued short-term selling pressure and relatively resilient longer-term positioning, he adds.

 

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