CryptoQuant analysts note that since the beginning of 2023, the main pressure on Bitcoin sales has come from retail investors. At the same time, the increase in the value of the first cryptocurrency is driven by the activity of large players.
This is reported by Business • Media
Activity of Institutional Players in the Bitcoin Market
Experts emphasize that starting in 2024, there has been a consistent trend of Bitcoin accumulation by large wallets. Among them are funds, institutional investors, and exchange-traded funds (ETFs). These market participants are forming long-term positions, demonstrating confidence in the continued growth of the asset’s value.
“Such players typically form long-term positions, having a high level of confidence in future growth,” the report states.
Behavior of Retail Investors and the Absence of Mass Hype
According to CryptoQuant, interest in Bitcoin among the general public remains limited. In particular, search queries for the word Bitcoin on Google Trends are at a low level — no trends indicating mass hype or FOMO effect, as seen in 2021, have been recorded. There is also no significant increase in activity regarding cryptocurrency discussions on social media.
Experts believe that retail investors are currently refraining from active participation in the market. However, their return could serve as a catalyst for a new wave of Bitcoin growth.
It was previously reported that the total Bitcoin reserves of leading global companies exceeded 1.1 million BTC.