The crypto market is known for its volatility, and the recent moves in Bitcoin (BTC) are no exception. Bitcoin holders recently suffered the largest three-day drop in non-empty wallets since the all-time peak on March 14. This fall caused a wave of liquidations among traders, fearing further declines. However, a major player could turn the situation around and propel BTC to new heights!
Bitcoin is collapsing day by day
Unlike the period leading up to the March peak, when optimism reigned with anticipation of rising prices, current sentiment is marked by uncertainty and fear of continued devaluation. At the time of writing, bitcoin is trading at around $61,047! Down significantly from its peak of over $71,000 earlier this month.
This downtrend sparked a sell-off among BTC holders, with the largest drop in non-empty wallets in three days since the all-time high. Data from Santiment shows that bitcoin wallets are emptying at the fastest rate since March 14. Which indicates a change in market dynamics.
Can retail investors turn the tide?
The questions on every investor's lips are: Where are the retail investors? Currently absent from the market, can they catalyze a surge bitcoin beyond $70,000?
The reasons for the absence of retail investors are multiple. But, it is clear that the return of these players could potentially propel Bitcoin to new heights. Institutional investors made considerable profits. And if retail investors were able to overcome their fear and enter the market, it could have a significant impact on the price of Bitcoin.
Although the Bitcoin market has been dominated by institutional investors, the potential entry of retail investors could be the long-awaited catalyst for further ascent. With a combination of institutional and retail money, Bitcoin could not only break the $70,000 mark! But, also reaching new all-time highs. The future of Bitcoin looks bright, and the return of retail investors could well be the start of a new era for the world's leading crypto.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Click here to join 'Read to Earn' and turn your passion for crypto into rewards!
