Analyst Sees Signs of Investor confidence Amid Bitcoin Dip
The conflict between Israel and Iran has led to a dip in Bitcoin prices. But it appears that this downturn might be an chance for some.Nicolai Søndergaard, a Research Analyst at Nansen, noticed that investors seem to be buying while the prices are low. In a statement to crypto.news, Søndergaard hinted at what big investors, known as whales, are purchasing.
âweâre seeing outflows from exchanges. This suggests both retail and institutional investors are taking advantage of the dip,â Søndergaard mentioned.Typically, global disruptions cause short-term price drops, followed by rebounds. He believes this scenario will repeat based on the ongoing Middle East conflict,with the U.S. now involved.
Søndergaard cautions that the marketâs recovery depends on the conflictâs severity. Though, he believes that bright investors are optimistic. âSmart money is still cautiously hopeful,â he pointed out, citing Nansenâs analytics.
Surprisingly, whales arenât just sticking to Bitcoin. Nansenâs data reveals a strong interest in memecoins. The biggest winners over the past week had a 50% success rate, with at least some memecoin investments. One top earner made a 2,829% return, mostly from the USELESS memecoin.
Memecoins are recovering, as seen on June 23, with double-digit gains for many tokens.SPX6900, Fartcoin, and Mog Coin saw significant increases. Yet, these daily gains havenât offset their weekly losses.
