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Title: Bitcoin (BTC) Price: Retail Investors Still Absent as Institutions Drive New Highs
The cryptocurrency market has witnessed a surge in the price of Bitcoin (BTC), with institutional investors driving the growth. However, it’s striking to note that retail investors have been absent from this rally.
According to Katie Stockton, founder at Fairlead Strategies, Bitcoin could reach $135,000 before entering a corrective phase. This prediction aligns with those made by other analysts, including Markus Thielen of 10x Research, who projects a price target of $133,000. Meanwhile, Nick Ruck from LVRG Research maintains that investors are still eyeing $150,000 as the next major price level.
The Bitcoin market has witnessed significant institutional investment, with Strategy acquiring an additional 4,225 BTC on July 14th. This purchase brings their total holdings to 601,550 BTC, valued at over $70 billion at current prices.
It’s important to note that this growth is not yet accompanied by retail participation. Nic Puckrin from The Coin Bureau highlights that there are no signs of retail investors joining the party. Typically, a surge in searches and rankings on crypto apps would signal increased interest among retail buyers. However, these indicators remain absent.
This rally lacks the typical euphoria seen at market tops. It appears that institutional investment continues to drive the price growth, with CME XRP Futures Volume surpassing $1.6 billion amid record daily trades.
Despite warning signs emerging, Bitcoin’s market capitalization has now reached an astonishing $2.4 trillion. This milestone enables BTC to flip Amazon and become the world’s fifth-largest asset.
As institutional investors continue driving this upward trend, it remains unclear when retail investors will enter the fray. Meanwhile, analysts are converging on $133K-$135K price targets before entering a corrective phase.
Source: coincentral.com
