Following Bitcoin’s recent price retreat, which saw the digital asset momentarily trade below the key $70,000 threshold, attention has quickly shifted from market volatility to institutional purchasing opportunity. Matthew Hougan, CEO of crypto asset manager Bitwise, has characterized the current market conditions as offering institutions a “new crack of the apple,” implying a renewed chance for large-scale capital allocators to establish positions at a more favorable valuation.
The sentiment reflects the slow-moving nature of institutional adoption, particularly among registered investment advisors (RIAs), wealth management firms, and family offices. While retail investors were quick to enter the market following the launch of US spot Bitcoin ETFs, many larger financial institutions require extensive due diligence and often prefer entering the market during periods of consolidation or price pullbacks, rather than chasing all-time highs.
Hougan’s remarks underscore the belief that the price stability seen around the upper $60,000 range offers a de-risked entry point. Institutions that may have missed the initial rally to $73,000 earlier this year now view this sub-$70,000 level as the optimal window to meet their diversification targets. Continued significant inflows from institutional players are widely anticipated to provide the necessary support structure for Bitcoin’s next sustained upward trajectory.
Source: Bitcoin under $70K gives institutions a ‘new crack of the apple’: Bitwise CEO
コメント