Bitcoin price was quite sturdy over the past week, showing good signs of recovery since the lowest year. While over the past few days, cryptocurrency has reached up to USD 108,000, now about USD 107,000 is growing. The latest data in the chain suggests that the investor group has remained outside the market, despite Bitcoin price resistance in recent months.
The demand for retail BTC drops by 10% in June: Analyst
In a post on June 28 on the social media platform with, analyst on the Maartunn chain revealed that the cohort of market participants called retail investors has been relatively inactive in the last few months. This revelation in the chain is based on the demand of the demand of retail investors, which estimates the demand for BTC among investors to petite.
Basically, this chain record follows the activity of petite wallets usually involved in petite -sized transfers. In particular, this ratio of retail investors measures a percentage change in the cumulative size of petite transactions (worth USD 10,000 or less) within 30 days.
Source: @JA_Maartunn on X
On the chart emphasized by Maartunn, the 30-day change in the demand of the retail investor’s Bitcoin investor fell on negative territory and remained red from the beginning of June. Recently, the record has dropped to 10%, which is the lowest level in over six months.
Considering that the Bitcoin price campaign was quite stable during this period, it is surprising that petite investors refrained from entering the market. The market seems to be rather dominated by institutional investors-all through Bitcoin rotary funds.
Institutional and Bitcoin ETF investors take control
This trend of falling demand for retail was also awarded by the analyst in the beetroot chain on the X platform, saying that institutional investors and ETF Spot investors seem to have a sturdy appetite for collecting bitcoins. Last week, stock funds based in the US recorded a significant weekly net influx of $ 2.2 billion.
In addition, Kesmeci mentioned that if the decrease in retail demand persists, it may mean that the price of bitcoins is approaching the bottom. Therefore, the flagship cryptocurrency can enjoy a stubborn rush and price movement up in the coming weeks.
In this letter, the price of BTC is around USD 107,244, which reflects only 0.1% enhance in the last 24 hours. According to data, Coingecko market leader increased by more than 4% in weekly time frames.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
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