Traditionally safer funds start to dip their feet as Bitcoin long-term volatility continuing to decline

02 Nov 2021

SGT 0815
📉 BTC | $61,274 (-$305, -0.5%)
📈 ETH | $4,348 (+$29, +0.7%)
📉 XRP | $1.10 (-$0.02, -2.1%)
📈 LTC | $198 (+$5, +2.4%)

📈 Total Crypto Market Cap: $2.63T (+0.2%)

🧐 The Houston firefighter’s pension fund was revealed to have invested $25 million in Bitcoin and Ethereum, in what is perhaps the first reported instance of a US pension fund investing in cryptocurrencies. While only a fraction of the fund’s overall holdings, pension funds tend to be conservative in their investment strategy.

🇿🇦 On the other side of the world, draft rules from South African legislators show that South African pension funds will likely be banned from investing in cryptocurrencies down from the limit of 2.5% of the fund’s holdings. This puts South Africa in direct contrast with developments over in the USA, and may bear watching in the coming quarters.

🔎 Bitcoin futures funding rates are declining, suggesting lower leverage for Bitcoin at its current price. Highly leveraged market conditions in the past year have preceded massive sell-offs thanks to cascading long liquidations, and the recent lower funding rates are likely a good sign of the health of Bitcoin at current prices.

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