Bullish Reversal For Bitcoin? Retail Investors Flood Back As New Addresses Re...
Recently, the price of Bitcoin (BTC) has entered a consolidation phase, fluctuating between $61,000 and $62,000 after a brief drop to $58,000 on June 24. While retail investors have shown renewed interest alongside institutional counterparts, the market faces a mix of bullish signs and potential headwinds. Retail Investors Return To Bitcoin In a recent social media post, crypto analyst Ali Martinez highlights the resurgence of retail investors, as evidenced by a four-month high in new BTC addresses reaching 432,026, adding to the sentiment that investors are betting on a significant price....
Related News
Retail could be right around the corner: Bitcoin wallet addresses shot up by almost one million in November. Could retail investors be flocking back to Bitcoin (BTC)? In encouraging signs for a bullish 2022, Glassnode data reveals that 913,000 new BTC addresses were added from November to the start of December this year. In a boon for BTC, on-chain analyst On-Chain College shared insightful data regarding retail adoption and the potential beginnings of broader adoption trends. The key takeaway to round off the year is that up to one million new entrants joined the Bitcoin network in....
June was much rougher for Bitcoin than many expected at the beginning of the month. This is because the price of Bitcoin virtually declined throughout the month, leaving many investors, especially short-term holders, disappointed. Related Reading: Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium However, despite the price decline, on-chain data suggests that Bitcoin adoption is growing. New data shows the number of new Bitcoin addresses being created has surged to the highest level in two months. This growth suggests the long-term prospects for Bitcoin remain strong. New BTC....
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has predicted that a flood of institutional money will flow into bitcoin once miners have addressed the renewable energy and environmental, social, and governance (ESG) issues. He said the flood will begin when bitcoin meets the ESG standards which will allow institutional investors to get into the asset class. O’Leary Predicts Soaring Institutional Demand for Bitcoin After Miners Solve ESG Issues Kevin O’Leary has reiterated his concerns about bitcoin’s sustainability and the importance of the cryptocurrency meeting....
Big BTC holders continue to accumulate as recent news supports the bullish sentiment. The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicate that the total amount of BTC held by addresses with 100+ Bitcoin has seen a particularly strong uptick since the news of Tesla investing $1.5billion in BTC, growing by an additional 20,490 BTC. This brings the total amount of Bitcoin located in whale addresses to a new all-time high of just over 11.6 million, a number likely reflecting the increase in institutional participants over the recent time....
The decline in the price of bitcoin following the rally has unearthed some underlying weaknesses that were not easily seen before. The run-up and eventual rundown from $25,000 have shown that retail investors are not as moved by the market as expected. Even now, transaction volumes for retail investors remain muted, indicating that the burnout from the rally was actually a result of low bullish sentiment. Bitcoin Retail Volume Remains Low In a recent report, Glassnode points to the low retail volume as an indicator of the weakness of the market. Usually, retail investors react to long....