Gasp! Prepare yourself for a whopper of a tale about Bitcoin (BTC) and its tumultuous journey to the top!
Our story begins with BTC reaching an all-time high (ATH) of $109,588, only to plummet like a stone by 8%. Shocking, we know!
The Vanishing Act of Retail Bitcoin Traders
In a stunning revelation, our cloak-and-dagger CryptoQuant analyst, Caueconomy, unmasked a sinister secret: Retail traders have been steadily disappearing from the Bitcoin accumulation scene over the past month!
As BTC’s price soared to its ATH of $109,588, on-chain activity for transactions under $10,000 plummeted by a whopping 19.34%!
Why, you ask? Well, it seems retail traders are too busy sipping tea and watching the market from the sidelines instead of jumping in during those high-volatility moments!
And, as if that weren’t enough, these retail traders are selling their positions faster than a hotcake stand at a school fair! Over the past month, they’ve slashed their holding times by 15%!
The Big Question: Will BTC Sink to $94,000?
Without these small-time traders, BTC’s market might crumble like a stale biscuit! If they keep selling, BTC’s price could plummet to $94,523!
But, chin up, dear reader! If retail traders regain their confidence and start hoarding Bitcoin again, the price might just soar past its ATH!
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2025-01-23 17:35