Bitcoin Retail lnvestors Remain Cautious Despite Price Gain – Details
2024年10月27日 - 5:30AM
NEWSBTC
Following its bearish start to October, Bitcoin has since shifted
momentum, rising as high as $69,000 in the last two weeks. Despite
this significant price rally, Bitcoin retail investors remain
hesitant to engage the market. In its weekly crypto report on
Friday, blockchain analytics firm CryptoQuant shared an interesting
insight into this low retail activity in the Bitcoin market.
Related Reading: Bitcoin Price To See 70%+ Powerful Bull Wave To
Push It Over $100,000, How High Can It Go? Bitcoin Retail
Investors’ Holding Grows At Historically Slow Pace – Report
According to CryptoQuant, retail investors’ holdings have grown by
18,000 BTC valued at $1.2 billion over the last four months
reaching a total new value of 1.753 million BTC worth $112.7
billion. While this development demonstrates a rising market
interest by these small investors, the analytic firm notes the pace
of accumulation is significantly slow compared to historical data
as retail investors only acquired a net 1,000 BTC valued at $66.31
million, in the last 30 days. Notably, the retail investor
accumulation rate has been on a consistent decline since May 2023,
when their holdings rose by 27,000 BTC worth $1.79 billion
Therefore, CryptoQuant reports that these Bitcoin individual
investors have only increased their investments by 30,000 BTC
valued at $1.99 billion in 2024, which pales in comparison to the
whale investors whose holdings have grown by 173,000 BTC worth
$11.50 billion in the same period. During periods of price
gain, low retail investor activity as discussed above can be
concerning as it represents decreased market liquidity or even a
lack of market confidence in the asset’s ability to sustain its
current bullish trajectory. Alternatively, this lack of
interest from small-scale investors also presents positive
indications. For example, CryptoQuant reports that low retail
activity includes these small investors holding onto their Bitcoin
rather than selling. The analytics firm notes that Bitcoin transfer
to exchange in January 2023 has decreased from a daily average of
2,700 BTC to 1,400 BTC in 2024, thus there is reduced selling
pressure on the token. In addition, transfer activity among
retail investors remains low, with transaction volume dropping to
$326 million on September 21, the lowest level recorded since 2020.
While reduced transfer activity may indicate limited market
volatility, CryptoQuant states that low retail activity has
historically preceded significant price gains for Bitcoin. Bitcoin
Price Overview At the time of writing, Bitcoin trades at 66,896
following a 1.11% decline in the last day due to reports of an
alleged investigation into Tether, the issuer of stablecoin USDT,
and conflict in the Middle East. However, Bitcoin’s daily trading
volume is up by 34.29% and is valued at $42.10 billion. Related
Reading: Bitcoin As National Reserve Asset: Key Insights From
Forbes On Central Banks Interest Featured image from Shuttershock,
chart from Tradingview
Quant (COIN:QNTUSD)
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