Long Bitcoin“ Is Still the Second-Most Crowded Trade, Despite 50% Drawdown: BoA Survey – Investing.com India
- Date: 16-Jun-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Long Bitcoin“ Is Still the Second-Most Crowded Trade, Despite 50% Drawdown: BoA Survey – Investing.com India
About 80% of fund managers surveyed by Bank of America (NYSE:) say the market is in a bubble, up from 75% in May.
The survey of 207 investors with $645 billion in assets further revealed that “long Bitcoin” is the second-most crowded trade after commodities.
This has been despite the fact that Bitcoin had a 50% drawdown last month from its all-time high of nearly $65,000 in mid-April. Following the drop to $30,000 and on some exchanges as low as $28,000 during the sell-off, BTC is back above $40,000.
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