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Bitcoin: Can BTC break $100K after retail interest disappears?
The recent correction in the cryptocurrency market has led to a significant drop in retail investor participation. According to CryptoQuant, retail demand plummeted sharply to -16% after the market correction from $100k. This phenomenon is not new; historically, when retail demand variation exceeds 15%, it often precedes a local top.
As Bitcoin’s [BTC] price approached its previous all-time high of $108k, the 30-day variation in retail demand surged by over 30%. A surge in retail demand usually signals heightened interest, enthusiasm, or fear of missing out among smaller investors. However, this surge has now given way to a sharp decline in retail participation.
A drop below 10% indicates that retail interest has dropped significantly. This sudden disappearance of retail investors creates an opportunity for large and experienced traders to accumulate Bitcoin at lower prices.
In light of these market dynamics, it appears that the market is cooling off after a speculative frenzy. Bitcoin’s recent price action suggests that markets are shifting from weak hands to stronger hands.
Source: ambcrypto.com
