FalconX: Institutional investors "buying the dip" during this week's plunge, with the buy/sell ratio exceeding half today

2024-08-07 11:58:51

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ChainCatcher news, according to Coingecko data, the cryptocurrency market has evaporated over $230 billion this week, with the prices of mainstream cryptocurrencies like BTC and ETH falling to their lowest levels in nearly three months. Institutional digital asset broker FalconX tweeted that institutions are buying the dip during this crash, noting in an observation on August 7 that almost all investors were net buyers, including proprietary trading desks (57% of total buying flow), hedge funds (63%), venture funds (61%), and retail aggregators (72%). "The buy/sell ratio, which was below 50% last week, has now exceeded 50%."

FalconX stated that BTC remains the largest cryptocurrency asset, with a trading volume 2.8 times that of ETH, and the trading volume of BTC and ETH is more than twice that of altcoins.

FalconX is also one of the active participants in bottom-fishing during this crash. On July 30, Lookonchain monitored that FalconX deposited 1,000 BTC to Binance.

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