Crypto market indicators are an essential tool for investors seeking to understand sentiment and its impact on financial markets. Now State Street offers a new indicator for Bitcoin (BTC).
State Street offers support to Bitcoin crypto investors
For those unfamiliar, State Street Corporation is a global specialist in providing investment services, investment management and investment research and trading services to institutional investors.
In this sense, State Street recently announced the launch of a new series of Bitcoin indicators with the aim that investors manage to contextualize the growing popularity of crypto. In this way, it will be an expansion of the supply of indicators by MediaStats.
It’s worth noting that State Street Partner MediaStats is a data analytics and technology company, combining expertise in data science and financial economics to extract insights from financial markets.
Therefore, MediaStats, launched in November 2020, analyzes online news sources on a daily basis and collects sentiment signals for different assets. So the goal of these tools is to enable institutional investors to understand what drives their portfolio.
Why an indicator for BTC?
According to the press release, Rajeev Bhargava, Head of Investor Behavior Research, explained the following:
“In recent months, the media coverage around Bitcoin has grown significantly... relative to the corporate, financial and economic media markets and continues to trend upward ”.
Therefore, State Street’s goal is to provide investors with a quantitative measure of the tone and intensity of the Bitcoin media discussion.
Furthermore, Bhargava added that it is understandable that Institutional investors are increasingly eager to know... how this growing attention is affecting traditional asset markets. ‘