Bitcoin Is Offering New Crack Of The Apple To Institutions: Bitwise CEO

Gold has since fallen 11.43% from its all-time high of $5,609, which it reached on Jan. 28, trading at $4,968 at the time of publication, according to Trading Economics.

Meanwhile, Silver has fallen 35.95% from its all-time high of $121.67, which it reached on Jan. 29, trading at $77.98 at the time of publication.

Horsley points to strong inflows from institutions

Horsley said demand for Bitcoin remains strong, particularly from institutional investors.

He said that Bitwise manages over $15 billion in institutional funds and saw more than $100 million in inflows on Monday alone, when Bitcoin was trading around $77,000.

“Theres a lot of volume, and there are sellers and buyers,” Horsley said.

Curiosity among retail investors has also spiked. Google Trends data shows worldwide searches for “Bitcoin” reached a score of 100 for the week starting Feb. 1, the highest level in the past 12 months, as the price fell to $60,000 on Tuesday, a level not seen since October 2024.

Meanwhile, BlackRocks spot Bitcoin exchange-traded fund (ETF) saw $231.6 million in inflows on Friday, following two days of heavy outflows during the turbulent week for the asset.

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