Bitcoin price hovered around $62,000 on Tuesday. While investor sentiment is dominated by intense fear and market volatility, Binance has collected over $4 billion worth of Bitcoin in the last 19 days. This activity in the global cryptocurrency market attracted attention at a time when individual investors tended to avoid risk and the volatile course continued.
Big Purchases and Fear Index Tension
The Crypto Fear and Greed Index dropped to the level of 8, signaling “Extreme Fear”. While Bitcoin had difficulty recovering by falling below the $ 70,000 level at the beginning of May, small investors started to reduce their portfolios and the amount of Bitcoin held by Binance increased. This indicated that major players were positioned on the buy side, regardless of the general trend of the market.
Interest of Institutions and Funds in Bitcoin
BitMine, which invests in digital assets, announced that it purchased $200 million worth of Bitcoin under the management of portfolio strategist Tom Lee. This development showed that institutional investors maintained their interest in crypto assets despite the negative market perception. Particularly large-scale purchases revealed that although there was short-term volatility, major actors in the market continued to remain active in the long term.
On the futures markets side, short positions worth approximately $7.2 billion are above current price levels. While the risk of a possible upward movement “liquidating” these positions intensifies, it was stated that short positions are higher than long positions. Experts stated that there is a stuck balance in the market and sharp price movements may occur due to the excess of short positions.
Market Developments and New Uncertainties
Blockchain researcher ZachXBT stated that a report regarding insider trading at a major crypto company will be published soon. It is considered that the emergence of the claim in question may create a new wave of volatility in the market.
Some long-term market models indicate that Bitcoin’s bottom formation may not be complete until 2026. The fact that Binance, which has been among the major stock exchanges recently, continues to collect Bitcoin stood out as a striking counter move in the atmosphere of anxiety in the market.
On the other hand, Binance flatly denied the allegations that its internal compliance unit detected more than $1 billion in Iran-related Tether transfers on the Tron blockchain and that some employees were dismissed after warnings. In the statement made by the company, it was emphasized that there was no confirmation about the existence of such transfers and layoffs.
As a result, while there is a clear divergence between the movements of major platforms and individual investor behavior, the level of fear and short position weight in the markets continues to prepare the ground for new price movements.
