“I know you guys aren’t really panicking about #Bitcoin, but in case you are… One River ($1.6B fund) bought $600M & will buy $400M more Guggenheim ($5.3B fund) will buy $530M SkyBridge ($9.2B fund) bought $182M Ruffer ($27B fund) bought $744M MassMutual ($675B AUM) bought $100M.” Mow added in another tweet.
Ironically, popular Bitcoin traders such as Dan Held, suggested that the Bitcoin dip was a chance to buy the coin and the investor addressed his Twitter followers saying: “That was your Bitcoin dip. Did you buy?”
That was your Bitcoin dip.
Did you buy? pic.twitter.com/kdyKcGTAX9
— Dan Held (@danheld) January 4, 2021
Meanwhile, the price of Ethereum (ETH) increased by 22% and reached $1,161 for the first time since January 2018. But its price quickly correct to below $900 afterward. The ETH correction was due to the large funding and compact sell orders at a key resistance level.
Furthermore, Daniel Moss, an analyst at DailyFX commented: “The long-term outlook for both bitcoin and Ethereum remains skewed to the topside. However, both cryptocurrencies could be at risk of a near-term pullback as their respective surges appear relatively overextended.”
