Bitcoin’s price has been trapped within a range below $70,000 for quite some time now. Attempts to surpass this level have been brief and unsuccessful as the digital asset failed to maintain the upward momentum.
Interestingly, new research revealed that the retail crowd is not here yet.
Bitcoin Retail Crowd Not Here Yet
According to CryptoQuant’s latest analysis, the current BTC market cycle has not yet reached its peak euphoria stage. An important characteristic of previous cycle tops was the dominance of coins held for less than 3 months, indicating that long-term holders (smart money) had already taken profits. This has left the market controlled by speculators and new entrants. Such a scenario results in greater volatility.
In the current cycle, however, BTC held for less than 3 months accounts for only about 35% of the realized cap, and as per CryptoQuant, this level is comparable to the early stages of previous bull markets.
Additionally, the realized profit level among short
We współpracy z: https://cryptopotato.com/bitcoin-retail-crowd-still-missing-can-they-push-btc-above-70k/
