Coinbase Chief Policy Officer: Institutions Remain Unfazed as Bitcoin Dips Below $60,000, Continuing to Buy the Dip

BlockBeats News, June 9th, Coinbase's Institutional Strategy Director John D'Agostino stated that Bitcoin fell below $60,000 last Friday, but it did not shake the confidence of institutional investors. Many large investors are taking advantage of the dip to continue buying. Family offices, governments, and sovereign wealth funds are still buying Bitcoin at a discount. He stated: "They liked it at $125,000, they liked it at $100,000, and they like it even more at $65,000."

D'Agostino said that the current Bitcoin ETF exposure is still around $100 billion. Despite a nearly 50% drop from the price peak, retail interest has only retraced about 15%. He also mentioned that there is currently no knowledge of any major institutional Bitcoin holders being in a "severely overleveraged" position or facing liquidation. Some large leveraged Bitcoin entities still seem to have the ability to continue entering the market for financing and supporting their purchases.