Bitcoin Nears All-Time Highs, But Retail Investors Still Missing — Why?
The post Bitcoin Nears All-Time Highs, But Retail Investors Still Missing — Why? appeared on BitcoinEthereumNews.com. Retail investors are reportedly missing from the current Bitcoin activities as Google Search trend for the term drops significantly. Analysts believe that these investors would likely return to the market once the Bitcoin price makes another attempt to break into the $109k resistance level. Bitcoin (BTC) is facing a huge test at the $101.5k level, as profit taking and external factors force it below $103k. According to our market data, the asset has declined by 1.6% in the last 24 hours. However, weekly and monthly investors are still up by 1.9% and 18% gains, respectively. Supporting this trend, investors’ interest seems to have also declined as the daily trading volume falls by 14% to $43.6 billion. Above all, retail activities have significantly dropped while institutional investors dominate the overall trading activities. Confirming this discovery, an analyst identified as River highlighted that the largest net sellers of Bitcoin this year have been the retail investors. Specifically, retailers have sold 247,000 BTC ($23 billion). Source: River Another look into this claim using Google search trends for the term “Bitcoin” showed a considerable decline. The level matched that of June 2024 when Bitcoin was trading around $66,000. On a positive note, retailers have been predicted to significantly contribute to buying pressure in about a week when Bitcoin possibly attempts to break the $109k level. It can be recalled that Google search for the term received an incredible volume in just three months after its earlier drop, sending the price to above $73k. Another item that has served as a proxy for retail demand is the Coinbase App. On November 15, 2024, when Bitcoin made an explosive surge to a new high, the Coinbase app jumped in position from 40th to 5th on the US app store. Currently, the Coinbase app is ranked 15th…
The post Bitcoin Nears All-Time Highs, But Retail Investors Still Missing — Why? appeared on BitcoinEthereumNews.com.
Retail investors are reportedly missing from the current Bitcoin activities as Google Search trend for the term drops significantly. Analysts believe that these investors would likely return to the market once the Bitcoin price makes another attempt to break into the $109k resistance level. Bitcoin (BTC) is facing a huge test at the $101.5k level, as profit taking and external factors force it below $103k. According to our market data, the asset has declined by 1.6% in the last 24 hours. However, weekly and monthly investors are still up by 1.9% and 18% gains, respectively. Supporting this trend, investors’ interest seems to have also declined as the daily trading volume falls by 14% to $43.6 billion. Above all, retail activities have significantly dropped while institutional investors dominate the overall trading activities. Confirming this discovery, an analyst identified as River highlighted that the largest net sellers of Bitcoin this year have been the retail investors. Specifically, retailers have sold 247,000 BTC ($23 billion). Source: River Another look into this claim using Google search trends for the term “Bitcoin” showed a considerable decline. The level matched that of June 2024 when Bitcoin was trading around $66,000. On a positive note, retailers have been predicted to significantly contribute to buying pressure in about a week when Bitcoin possibly attempts to break the $109k level. It can be recalled that Google search for the term received an incredible volume in just three months after its earlier drop, sending the price to above $73k. Another item that has served as a proxy for retail demand is the Coinbase App. On November 15, 2024, when Bitcoin made an explosive surge to a new high, the Coinbase app jumped in position from 40th to 5th on the US app store. Currently, the Coinbase app is ranked 15th…
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