Upward Pressure From Traditional World That Drives Bitcoin Prices

[RooseveltOah]

I’m trying to gather some data that shows large demand of BTC is coming from the traditional world

Institutions :
Grayscale certainly is gaining traction from traditional institutions
https://grayscale.co/insights/grayscale-q3-2019-digital-asset-investment-report/
In 3Q19, they saw the heaviest quarterly inflows to Grayscale Bitcoin Trust in the product’s six-year history, including nearly $75 million in a single day.

Individual investors :
Square users bought $148 million of Bitcoin in Q3 2019, 244% YoY growth
https://twitter.com/kerooke/status/1192188599632121861?s=20

Borrowers :
Companies like BlockFi, CoinList and others seem to be doing well with strong initial launch, we don’t see much public data now, does anyone have access?

What other sources do you guys have to strengthen such signal

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[avikz]

I can add one more unofficial signal to the list. This is the trading volume of Bakkt specially designed for physically settled bitcoin derivatives.

https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures/data?marketId=6137543

Institutions are showing interest due to the attractive pricing of bitcoin right at this moment! Even though it is almost impossible to get a holistic picture of consumer interest of an unregulated market like crypto. But the current price level is quite tempting even for individual investors!

[teosanru]

I’m trying to gather some data that shows large demand of BTC is coming from the traditional world

Institutions :
Grayscale certainly is gaining traction from traditional institutions
https://grayscale.co/insights/grayscale-q3-2019-digital-asset-investment-report/
In 3Q19, they saw the heaviest quarterly inflows to Grayscale Bitcoin Trust in the product’s six-year history, including nearly $75 million in a single day.

Individual investors :
Square users bought $148 million of Bitcoin in Q3 2019, 244% YoY growth
https://twitter.com/kerooke/status/1192188599632121861?s=20

Borrowers :
Companies like BlockFi, CoinList and others seem to be doing well with strong initial launch, we don’t see much public data now, does anyone have access?

What other sources do you guys have to strengthen such signal

I think these are some good examples but this demand is going to be significantly countered by government interventions in this field. We need a pretty friendly government policy on this matter and only then will major investors come into this core Cryptocurrency area. But these are really good signs of some healthy investments than merely some ICO investments which went on to become nothing but rubbish. I am pretty excited to see how this effects the price in next couple of years because as far as I know supply getting halved and increasing demand means some great bullish momentum.

[cosmicrays]

The pressure will only increase, but the crypto industry is only getting stronger from this.

[RooseveltOah]

I can add one more unofficial signal to the list. This is the trading volume of Bakkt specially designed for physically settled bitcoin derivatives.

https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures/data?marketId=6137543

Institutions are showing interest due to the attractive pricing of bitcoin right at this moment! Even though it is almost impossible to get a holistic picture of consumer interest of an unregulated market like crypto. But the current price level is quite tempting even for individual investors!

This for sure is, do you mind if I add this source to the original post?

[squatter]

I can add one more unofficial signal to the list. This is the trading volume of Bakkt specially designed for physically settled bitcoin derivatives.

https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures/data?marketId=6137543

Institutions are showing interest due to the attractive pricing of bitcoin right at this moment!

We can tell institutions are trading the futures contracts, but how many of them are actually taking delivery in bitcoins? Does anyone know where we can find more detailed data about settlement, open interest and vault holdings?

Usually, physically deliverable contracts allow for the option of cash settlement or rolling forward positions into the next monthly contract. It would be interesting to know what percentage of positions are being delivered in bitcoins, since that is more likely to indicate actual accumulation by institutions.

[RooseveltOah]

I can add one more unofficial signal to the list. This is the trading volume of Bakkt specially designed for physically settled bitcoin derivatives.

https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures/data?marketId=6137543

Institutions are showing interest due to the attractive pricing of bitcoin right at this moment!

We can tell institutions are trading the futures contracts, but how many of them are actually taking delivery in bitcoins? Does anyone know where we can find more detailed data about settlement, open interest and vault holdings?

Usually, physically deliverable contracts allow for the option of cash settlement or rolling forward positions into the next monthly contract. It would be interesting to know what percentage of positions are being delivered in bitcoins, since that is more likely to indicate actual accumulation by institutions.

This is the only relevant data I’ve found, will keep looking to see if anyone else is doing this
https://cointelegraph.com/news/research-bitcoin-futures-settlement-date-suggests-4-gains-likely

[Lottoshi]

I’m not sure if these are enough to explain the up and down of Bitcoin, it seems to me public confidence is still the most important part