{"id":41040,"date":"2021-04-20T10:46:46","date_gmt":"2021-04-20T07:46:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41040"},"modified":"2025-08-30T16:57:46","modified_gmt":"2025-08-30T13:57:46","slug":"nydig-institutions-seize-bitcoin-plunge-to-build-up-positions","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/nydig-institutions-seize-bitcoin-plunge-to-build-up-positions\/","title":{"rendered":"NYDIG: Institutions seize Bitcoin plunge to build up positions"},"content":{"rendered":"<p>Clients of the institutional-investor\u2013focused platform New York Digital Investment Group (NYDIG) used the sharp drop in Bitcoin&#8217;s price to build up positions in the cryptocurrency, according to NYDIG strategist Greg Sipolaro.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">By popular demand. Thanks for the feedback <a href=\"https:\/\/twitter.com\/FossGregfoss?ref_src=twsrc%5Etfw\">@FossGregfoss<\/a>. <a href=\"https:\/\/t.co\/bJ6D9qwxwx\">pic.twitter.com\/bJ6D9qwxwx<\/a><\/p>\n<p>\u2014 NYDIG (@NYDIG_BTC) <a href=\"https:\/\/twitter.com\/NYDIG_BTC\/status\/1384173882752393224?ref_src=twsrc%5Etfw\">April 19, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cOur platform has been on the buyers&#8217; side exclusively for the last 24-48 hours\u201d<\/em>, \u2014 wrote the analyst.<\/p>\n<\/blockquote>\n<p>On Sunday, 18 April, Bitcoin\u2019s price slid from above $61,000. At one point the price <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-price-slides-10\"> fell by 14%<\/a> \u2014 below $52,000 \u2014 a drop accompanied by a surge in trading volumes.<\/p>\n<p>On Monday, 19 April, prices recovered to $57,500. On 20 April, bears tried to push the price toward the recent lows.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cNYDIG clients are ready to buy any dips, indicating growing willingness to tolerate Bitcoin\u2019s high volatility. In our view, the current decline is driven by repositioning into long positions due to high leverage, rather than a change in the fundamental backdrop,\u201d<\/em> \u2014 the expert explained.<\/p>\n<\/blockquote>\n<p>Sipolaro noted a notable premium in Bitcoin&#8217;s price on Coinbase relative to Binance. He concluded that the main pressure was driven by Bitcoin holders from Asia.<\/p>\n<p>According to CoinShares\u2019s latest report, from 12 to 18 April inflows into crypto-asset investment products amounted to $233 million, including $108 million in Bitcoin. The figure was the highest in the last five weeks.<\/p>\n<p>On 16 April, the hash rate of leading Bitcoin mining pools fell sharply amid electricity-supply problems following explosions and floods in coal mines in several Chinese provinces.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Clients of the institutional-investor\u2013focused NYDIG platform used the sharp drop in Bitcoin&#8217;s price to build up positions in the cryptocurrency, according to NYDIG strategist Greg Sipolaro.<\/p>\n","protected":false},"author":1,"featured_media":41041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1191,1156,1690],"class_list":["post-41040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-coinshares","tag-institutional-investors-and-whales","tag-nydig"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=41040"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41040\/revisions"}],"predecessor-version":[{"id":41042,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41040\/revisions\/41042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/41041"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=41040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=41040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=41040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}