Robinhood: Investors Are Looking Beyond BTC

Investors Diversifying Beyond BTC and ETH

Robinhood’s crypto division president Johann Kerbrat stated that despite the market downturn, investors are moving beyond the top three cryptocurrencies. Customers see this as a dip buying opportunity and are broadly diversifying into assets outside BTC detailed analysis and Ether (ETH). This shows that investors are more comfortably accepting crypto as an asset class, including volatility.

Altcoin Season Index, Bitcoin Season score 33/100 shows investors are still BTC-heavy. Source: CoinMarketCap

Coinbase Asset Management President Anthony Bassili had said that the community sees BTC first, ETH second, and Solana (SOL) could be a candidate for third. MidChains CEO Basil Al Askari noted that major asset managers have entered top 20 assets via block trades, not yet focusing on small cap altcoins or DeFi. Kerbrat added that staking is seeing strong interest and DeFi usage is increasing. Crypto Fear & Greed Index has been showing extreme fear since early February, while US spot BTC futures ETFs experienced net outflows of 3.8 billion dollars for five weeks in a row.

BTC Technical Outlook and Supports

BTC price 64,718.56 USD (-3.98% 24s), RSI 31.37 (oversold), downtrend and bearish Supertrend. EMA 20: 70,087. Supports: S1 64,323 (strong, -0.26%), S2 59,967 (-7.02%). Resistances: R1 65,490 (+1.55%), R2 68,193 (+5.74%). S1 is critical for dip buying.

Institutional BTC Movements: Net Holding and Saylor

Turkish Net Holding (NTHOL.IS) ranks 74th among institutional holders with 352 BTC. MicroStrategy’s Saylor is basing BTC purchases on common shares with preferred shares. Bitmine is at an 8.8 billion dollar loss in the ETH drop.