The key BTC metrics show bears are running on fumes despite the institutional BTC outflows of $55 million as we reported about in our recent bitcoin news.
The Key BTC metrics show quite a gloomy picture and contrary to the analysts warning that BTC could dip to $38,000 before a breakout, CoinShares and Arcane Research suggest that the tide could be turning slowly. Bitcoin institutional outflows were negative four out of five weeks and totaled $55 million. The total assets under management fell to a three-month low of $35 billion last week. The CoinShares findings show that larger investors in the BTC ecosystem like Grayscale, CoinXBT, ProShares, and ETC Group reduced their exposure to the asset.
![btcusd](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2022/01/key-btc-metrics-show-bears-could-be-running-on-fumes.png)
Their actions are compounded by fear and green index hogging the extreme fear dial for two months as the BTC spot buying volume reached a six-month low. If the fear and greed index entered a third consecutive month of fear, it will be the second time to do so in the metric’s existence. Traders are also cautious. According to Arcane Research, the seven-day average real BTC trading volume is set at $3.4 billion and it is the lowest figure since July 2021. Investors and enthusiasts in the crypto space will remember that following this moment, the BTC price swelled by 60% which was buoyed by robust institutional investment. With Bitcoin’s 30-day price volatility constrained to the lowest level for twelve months at 2.5%, the spring is preparing.
The Twitter analysts clamor for an upside reaction as one BTC bull @GalaxyBTC told followers that $80,000 is on the horizon while some say the bottom is in for the nth time.
As recently reported, Bitcoin traded in a tight range this past week which provided a relief to the market participants after the volatile start of the year and the crypto was mostly flat over the past 24 hours and up about 3% over the past week compared to the 5% gain in ETH. Some traders and analysts remained careful despite the recent price bounce off $40,000 earlier this week.
![crypto market](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2022/01/key-btc-metrics-show-bears-could-be-running-on-fumes-1.png)
Many crypto market analysts think the bottom is in for BTC and ETH after their terrible start to the new year. BTC increased by 6% from this time a week ago and ETH is up by 10% since then. It has been the case, however, that the altcoins are doing much better in this new year. Not too long ago, it was rare to see a lot of projects surge while BTC and ETH remain stagnant.
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