The speculation regarding the U.S. Federal Reserve’s tightening cycle and recent geopolitical developments may have resulted in panic selling by short-term traders. Glassnode’s analysis showed that those who bought (BTCIn the last two-and-half months, a number of positions near the November 2021 high were liquidated. This Investors with high conviction got the majority of supplyThis resulted was a redistribution of wealth from weak to strong hands.

Due to its resilience, the crypto market continues to draw in naysayers. One of the most popular figures to be a Ken Griffin believes in change of heartCitadel, a multi-national hedge fund founded by Griffin. In an interview with Bloomberg, Griffin said that Citadel will “engage in making markets in cryptocurrencies” over the next few months.