Signs Retail Investor FOMO in Bitcoin is Growing After Trump Win
The post Signs Retail Investor FOMO in Bitcoin is Growing After Trump Win appeared on BitcoinEthereumNews.com.
Bitcoin has been hitting new all-time highs this past week, sparking excitement among retail investors. The crypto market has recorded strong bullish sentiment following Donald Trump’s win in the US presidential election, driving BTC to an all-time high of $84,000. As investor interest surges, here are three signs indicating a rise in retail involvement. Signs Retail Investor Interest in Crypto is Rising in November Firstly, Coinbase has jumped to rank 81 on the Apple App Store. This marks the first time Coinbase has broken into the top 100 since March. Additionally, Google searches for Bitcoin have surged, coinciding with its recent price records. This surge in search volume indicates that more people are exploring Bitcoin as prices rise. Finally, the past week saw a sharp increase in inflows to major crypto exchanges. Data from DeFiLlama shows approximately $3.44 billion USDT injected into exchanges, with $1.75 billion sent to Binance and $770.8 million to Coinbase on Ethereum. This high inflow of funds suggests that investors are preparing to buy or trade crypto assets, adding to the market’s momentum. “Mark My Words, Retail is Coming. BTC Retail Investor volume up, BTC Google searches up. This is how it starts. It starts with BTC, then it flows from there. Bookmark this,” said one X user. Market Factors Impacting Retail Interest Bitcoin’s recent performance has further boosted confidence. Over the past week, Bitcoin has gained 20% and is currently trading at $82,000, with a market cap surpassing $1.6 trillion. Daily trading volumes have doubled, reaching $92 billion, while Bitcoin’s market dominance sits at 52%. The cryptocurrency even overtook Meta, becoming the ninth-largest asset by market cap at $1.6 trillion. This rally has had a domino effect on the wider crypto market. Data from CoinGecko shows that the global crypto market cap has also increased,…
Filed under: News - @ November 11, 2024 5:22 pm