The bear market continues, BTC and altcoins are really struggling to break their current resistances. State Street executives reassure their institutional clients’ continued interest in digital assets.
Crypto, a guidance on long positions
“ There is a belief that the asset class is here to stay. », said Irfan Ahmad, product manager for the financial institution State Street, Asia-Pacific region. According to him, institutional traders have not substantially lost interest in cryptocurrencies, even in the midst of crypto winter.
That winter has not dampened the ardor of investors. Irfan Ahmad proves it. It is based on their behaviors during the months of June and July in the midst of falling crypto prices.
” During the June-July period when things really heated up in terms of activity, we saw institutional clients not necessarily doubling down, but they weren’t really deterred from placing strategic bets on the d ‘assets itself. “, he explained.
An opinion shared by several asset managers
It should be noted that it was not just State Street that made the remark. We find a similar opinion on the website of the company Blackrock. She asserts: Despite the sharp decline in the digital asset market, we are still seeing substantial interest from some clients institutional.”
This means that institutional investors, who are often for a long position, have not stopped supporting cryptos. Moreover, the same thing is noticed at the level of the exchanges. In this case, those where institutional traders have not retreated despite the crypto winter. In June, Binance also launched a platform exclusively dedicated to them.
The continued interest of institutional investors shows the real existence of a future for the crypto market. However, all bets should be placed on the long term. In the short term, the bears remain in control of the market.
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