Since its high of $99,531 on November 23, Bitcoin, the world’s leading digital asset, is currently trading at Level from 92 thousand up to 93 thousand dollarsleading many to speculate that the historic price surge was over. However, for CryptoQuant CEO Ki Youthful Ju, the current price situation of the alpha coin is not a cause for concern.
In a post on Twitter/X, Ki Youthful shared that Bitcoin retail investors have not yet entered “FOMO” (fear of missing out) mode. Current retail activity, in his opinion, shows no signs of overexcitement or panic.
Ki Youthful explained that the spot, futures and exchange markets continue to see a surge in trading activity.
Retail Investors Feeling ‘FOMO’ on Meme Coins?
In a Twitter/X post on November 26, Ki Youthful argued that BTC retail investors are not yet feeling the excitement of missing out. Market indicators – in his opinion – indicate neutral market sentiment, the same position he has maintained since April, when the price of the most significant digital asset was $64,000.
#Bitcoin retail investors are not in FOMO yet. pic.twitter.com/DiGcChyNWt
— Ki Youthful Ju (@ki_young_ju) November 26, 2024
During the last trading period for Bitcoin, retail FOMO peaked in January 2021 when the asset’s value exceeded $30,000, pushing the price to an all-time high of $69,000.
Although Bitcoin repeatedly tested the 100,000 mark last week. dollars, market observers say that retail investors still need to invest heavily.
Recent price declines caused by the macro environment
According to QCP Capital’s observations, subsequent declines in Bitcoin prices can be attributed to the existing macro environment. Many factors currently prevent Bitcoin from continuing its operations push towards 100k dollars.
According to QCP Capital, Bitcoin is under pressure from the possible release of economic data such as FOMC minutes and the PCE report. Additionally, Bitcoin was overbought following the acute price action following the US elections.
You don’t have to worry?
However, QCP Capital indicated that this is not a cause for concern and that sentiment towards digital assets remains bullish.
On-chain data shows that millions of dollars have been liquidated in the last 24 hours, with approximately $438 million worth of ETF outflows recorded on November 25 last year.
2/ Lack of Immediate Catalysts: With the US holidays approaching and significant economic data such as today’s FOMC meeting minutes and tomorrow’s PCE report, the market lacks the momentum to apply pressure #BTC towards 100 thousand dollars. #BTC it was extremely overbought after the election, making a renewal period inevitable.
— QCP (@QCPgroup) November 26, 2024
For CryptoQuant’s CEO, market share is not slowing down. According to market indicators, trading is booming on all exchanges, markets and tickets. CryptoQuant analysis shows that retail investors are feeling “FOMO” on meme coins, especially Dogecoin.
Featured image from CNBC, chart from TradingView
