Bitcoin Retail Demand At 6-Month Low — But Institutional Investor Activity Keeps Rising
Main Idea
Bitcoin's retail demand has declined by 10% in June, while institutional investor activity, particularly through Bitcoin ETFs, has increased significantly.
Key Points
1. Bitcoin's price has shown strong recovery, reaching up to $108,000 recently, but is currently around $107,000.
2. Retail demand for Bitcoin, measured by small transactions (under $10,000), has dropped by 10% in June.
3. Institutional investors are showing increased interest, with US-based Bitcoin ETFs recording $2.2 billion in net inflows over the past week.
4. Bitcoin's price has risen over 4% weekly, despite a minimal 24-hour increase of 0.1%.
5. On-chain data indicates a shift in Bitcoin demand dynamics, with institutional activity compensating for reduced retail participation.
Description
The price action of Bitcoin has been quite strong over the past week, exhibiting good signs of recovery from last weekend’s low. While the premier cryptocurrency travelled as high as $108,000 in the last few days, it is now hovering around the $107,000 mark. The latest on-chain data suggests that a group of investors has stayed out of the market despite the price resilience of Bitcoin in recent months. BTC Retail Demand Falls By 10% In June: Analyst In a June 28 post on social media platform Z, ...
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