US Institutions Are Driving Bitcoin Prices, Matrixport Research

Bitcoin prices have risen in recent weeks and the digital asset has been able to return to its November 2022 levels. This has been a much-needed boost for the market during this time, but an unexpected investor group is reportedly driving the price of cryptocurrency.

Bitcoin surges are occurring during US time.

in a new matrix port report As shared with NewsBTC via email, US institutional investors are driving the recent bitcoin price surge. The report notes that over the course of January, the digital asset has already risen more than 40%, but more than 35% of those increases occurred during US business hours. As such, the research report concludes that investors Americans are driving the price.

Matrixport explains the reasoning behind this by saying that when an asset performs this well during US time, especially one that trades for 24 hours, it shows that institutional investors are buying the asset. However, when it does well during Asian time, it means Asian retail investors are buying it.

BTC moves the most during U.S. trading hours | Source: Matrixport

The most significant moves occurred during this time, and the trend lines show close similarity to Bitcoin’s movements up to this point. But even more interesting is the fact that the data shows that US-based investors are responsible for 85% of the total BTC purchases currently taking place.

What is driving these US-based investors?

As the Matrixport report notes, US investors have been encouraged by the slowdown in inflation. It has put individual and institutional investors in positions where they believe they can take more risk. Therefore, there is a marked increase in your exposure to risky assets like bitcoin.

Bitcoin (BTC) Price Chart from

BTC price rises over 40% in less than 30 days | Source: BTCUSD on

Furthermore, the report points to the possibility of further rallies as inflation is expected to continue falling. “This could set up the crypto market for a mid-month rally, every month and become a trend where we see a strong rally from mid-month onwards with some consolidation towards the end of the month as traders take profit. and miners sell calls. .”

This is good news for altcoins as well, as Matrixport points out that, historically, money flowing into bitcoin will eventually spill over into other digital assets. So this could mean that the market has not seen the last of the altcoin rally once these institutional investors start spreading their investments.

BTC is currently trading at $22,959 at the time of writing. The coin is seeing small gains of 0.06% in the last 24 hours, but on a rolling seven-day basis, the digital asset is still doing quite well with gains of 9.45%.

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