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Ceo of Three Arrows Capital Suu Zhu commented on the situation of bitcoin. In his opinion, the largest digital currency is entering a new phase of accumulation.
The BTC rate on Friday, May 20, strengthened to $ 30,144. Su Zhu cited several factors that signal a gradual change in trend.
Over the past seven weeks, there has been a rollback of bitcoin. To the maximum values since May last year, the trading volume in the spot and derivative markets increased. The explosion occurred at a time when BTC fell to $ 26,000, said the CEO of Three Arrows Capital.
Ot also pointed to an increase in the activity of Asian traders. Moreover, the amount of transactions with cryptocurrency in the Asian region exceeded the American trading volumes.
During the turbulence caused by the collapse of the UST stablecoin, the first positive signal was the entry of institutional investors into the arena. The Canadian crypto fund last week received 7,000 BTC bitcoin ETFs.
Su Zhu added that there are factors that could potentially lead to a resumption of bitcoin’s rally. A conference in El Salvador with the participation of representatives of central banks of 44 states and dedicated to fintech, as well as the likelihood of using cryptocurrency by OPEC countries to carry out international transactions.
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