Bitcoin rallies off ~$30k support again; crypto outlook remains choppy for now; macro picture softening; Delta variant may help alleviate a key risk for crypto (Fed tapering); Fidelity institutional survey highlights the big picture opportunity
Bitcoin rallies off ~$30k support again but crypto remains in a choppy market
Crypto is still in a doldrums of summer as many investors have taken a sell in May and go away approach. We think these combined factors below are partially why crypto remains in a choppy market environment for now:
-Institutional investors taking money off table early in year locking in performance fees
-Many institutional investors who were trading crypto are away for the summer months
-Less institutional capital, more retail, lower volumes, and lower liquidity = choppy VOL rising
Yet, Bitcoin conti...Finish reading this report for free
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