Bitcoin’s
BTC
$21,257
A survey of wealth managers and institutional investors already holding crypto, from the U.S., U.K., France, Germany, and the UAE shows that 82% of the respondents expect to increase their investments in digital assets by 2023.
The research shared with Cointelegraph claims that only 7% of the participants plan to reduce their exposure to crypto, while 40% plan to “dramatically increase their holdings.”
Daily cryptocurrency market performance. Source: Coin360More evidence of institutional interest was highlighted in a report from CoinShares which revealed a total institutional inflow of $63 million into digital asset funds. The buying was broad-based as all individual digital assets with dedicated funds witnessed inflows for the first time in nine weeks.
However, the arrival of institutional investors is unlikely to result in a sharp upswing in crypto prices in the short term. This is because institutions gradually accumulate their desired exposure before boosting prices higher.
Let’s analyze the charts of the top-10 cryptocurrencies to identify the levels that will suggest the start of a possible uptrend.