The explosion of interest experienced by institutional investors allowed Bitcoin to rise above $31,000 again.
Even though BTC has declined below $31,000, the interest of institutional investors still continues.
In this context, a bullish share for Bitcoin came from popular crypto analyst Willy Woo.
Sharing on Twitter, Woo said that institutional and professional investors still continue to demand futures markets.
Stating that this demand intensity made a significant contribution to the rise of the Bitcoin price, Willy Woo said that this demand is already continuing to increase, showing that we are in the early stages of another price squeeze.
Bitcoin's price movements were triggered by institutional investors' futures positions.
Even now, demand continues to rise, indicating we are in the early stages of another price squeeze.”
According to Woo, who also added a graphic to his post, institutional demand increased in early June and there was a strong upward price increase in mid-June. Considering that institutional demand continues to rise, Willy Woo argues that there may be an increase again.
However, in the continuation of his share, Woo warned investors about possible decreases and advised them to closely follow some decreases that could disrupt the upward movement quite quickly.
Price action has largely been dominated by demand stemming from the calendar futures markets, the instrument of pros and institutions.
Even now, demand keeps surging, suggesting we are in the early stages of another price squeeze. pic.twitter.com/04SM6yhvr5
— Willy Woo (@woonomic) July 4, 2023
*Not investment advice.
