Bitwise CEO: "Large Net Inflows Amid Bear Market"
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Hunter Horsley has characterized the current market as a clear bear market. He explained, "Bitcoin is being sold simultaneously with other macro assets in a period of illiquidity," adding, "Investors are liquidating their liquid assets across the board." Indeed, Bitcoin has fallen approximately 22.60% over the past 30 days and is trading at $69,635 (approximately 92.7 trillion won) at the time of writing. This marks the first time it has fallen below $60,000 since October 2024.
He drew a line, saying that this price adjustment is a macro trend unrelated to improvements in the regulatory environment or increased institutional adoption. Hunter Horsley stated, "Currently, Bitcoin is trading in the same way as other macro assets, such as stocks and commodities." Indeed, gold is currently trading at $4,968, down approximately 11.43% from its all-time high of $5,609 on the 28th, while silver has also corrected approximately 35.95% from its all-time high of $121.67 on the 29th.
However, institutional investment demand remains robust. Hunter Horsley stated that Bitwise currently manages over $15 billion (KRW 21.966 trillion) in institutional funds and recorded a net inflow of over $100 million (KRW 146.4 billion) on the 5th alone, when Bitcoin was around $77,000. He added, "Trading volume remains high, and there is a clear coexistence of buyers and sellers."
Retail investor interest is also on the rise again. According to Google Trends, searches for "Bitcoin" reached a 12-month high, reaching a score of 100 for the week beginning on the 1st. Furthermore, BlackRock's spot Bitcoin exchange-traded fund (ETF) recorded a net inflow of $231.6 million (KRW 339.1 billion) on the 7th, continuing the flow of institutional funds even amidst volatile market conditions.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
