Large-scale Investors Stay Cautious Amidst Crypto’s Controversial Surge, as Described by Meltem Demirors

CoinShares’ Chief Strategy Officer, Meltem Demirors, reveals in a recent CNBC interview that institutional and retail investors, particularly blue-chip traders, remain cautious on the sidelines during what she dubs the crypto industry’s “most-hated rally.” 

According to Demirors, significant macro desks have yet to initiate buying, emphasizing that institutional investors are still in a holding pattern. She notes that the resurgence of retail interest, marked by the rise of meme coins, will serve as a key indicator for larger players to re-enter the market. 

Despite the prevailing skepticism and negative sentiment fueled by events like Binance’s settlement with the SEC and 2022’s industry challenges, Demirors asserts the crypto market is staging a comeback as the total market cap has risen from $1.06 trillion on October 23rd to $1.60 trillion.

Clever Robot News Desk 12^th December 2023