Share this article
BTC
$83,497.01
+
0.79%ETH
$1,806.36
+
1.03%USDT
$0.9997
+
0.01%XRP
$2.1668
+
4.60%BNB
$596.93
+
1.06%SOL
$120.26
+
4.05%USDC
$1.0000
+
0.01%DOGE
$0.1701
+
3.26%ADA
$0.6604
+
2.92%TRX
$0.2365
-
1.60%LINK
$12.91
+
2.07%LEO
$8.9875
-
4.15%TON
$3.2951
-
2.79%XLM
$0.2570
-
0.42%AVAX
$18.28
+
1.02%SUI
$2.2558
+
2.20%SHIB
$0.0₄1233
+
0.92%HBAR
$0.1621
-
0.29%LTC
$83.53
+
0.54%BCH
$303.12
+
0.85%Sign Up
- Back to menuNews
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menuSponsored
- Back to menu
- Back to menu
- Back to menuResearch
- Back to menuWebinars & Events
- Back to menu
‘Long Bitcoin’ Is World’s Most 'Crowded' Trade: Bank of America Survey
A bullish bet on the cryptocurrency was also the most crowded trade in January.
“Long bitcoin” is once again the most "crowded" trade in financial markets, according to a new survey by Bank of America.
STORY CONTINUES BELOW
- The survey of 194 funds managers with $592 billion worth of assets under management overall found that a bullish bet on cryptocurrency is the most crowded trade in the world at the present time, Bloomberg reported Tuesday. A "crowded trade" refers to when a vast majority of traders make the same bet.
- “Long bitcoin” also topped Bank of America’s survey in January, before being pushed into second place the following month behind “long tech.”
- The survey notes that the designation as the most crowded trade has historically been associated with relative tops, such as for tech in September 2018 and September 2020 and the U.S. dollar in February 2015 and January 2017.
- But that hasn't been the case when bitcoin has been the most crowded. January was followed by still higher climbs for the world’s largest crypto in February.
See also: Bank of America Joins Paxos Network Eyeing Same-Day Stock Trade Settlement
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
