Bitcoin News: Retail Demand Hits Highest Level Since 2020 Bull Market
The post Bitcoin News: Retail Demand Hits Highest Level Since 2020 Bull Market appeared on BitcoinEthereumNews.com.
In latest Bitcoin news, small investors are fueling a big increase in BTC transactions. This took Bitcoin retail demand to its highest level since 2020. With BTC price close to $110,000, this rising retail fervor may continue pushing BTC even higher, along with colossal BTC withdrawals from exchanges. Bitcoin’s market performance has been generally positive. Bitcoin price is currently at $101,976, falling short of its all-time high of $103,900.47. – Advertisement – Bitcoin has dipped slightly over the last 24 hours by -1.21%. Yet it still shows a massive 6.25% gain over the past day. The current price as of Dec 5, 2024 is still in a strong range between it’s low of $102,638.15 and towards its high of $103,900.47. While there was a minor daily drop, this stability in the upper price range indicates investor interest will remain and, possibly, there will be further growth. – Advertisement – Retail Investor Interest For Bitcoin Peaks As Price Climbs Bitcoin demand continues to rise, with transaction volumes from smaller investors driving the price of Bitcoin higher towards key psychological levels, according to data sourced from CryptoQuant. Bitcoin’s price has been shooting up. It reached $100,000 within the last couple of hours, and this has coincided with a sharp uptick in Bitcoin activity. Usually retail investors augur well, and historically, such trends tend to coincide with major market moves. Bitcoin’s short-term price direction may be influenced by the current surge in retail interest. Bitcoin retail investor demand | Source: CryptoQuant Demand for Bitcoin from retail investors has made Bitcoin news lately as the coin has seen its largest 30-day change since 2020. The data shows that participants who hold their transactions between $0 and $10,000 are growing. CryptoQuant’s charts show this trend of market behavior shifting as the green segments represent positive…
Filed under: News - @ December 5, 2024 3:25 pm