The retail mania is not being triggered by the historical surge of Bitcoin up to and beyond the 100 000-mark. No hype, no friends inquiring how to purchase and no crypto currency sensation such as Dogecoin or XRP caught the limelight. This rally is unlike previous cycles since search interest is low even after the rally. Others theorize that market crashes in the past have resulted in permanently driving retail investors away or at the least desensitizing them to all the excitement.
Another Psychological Milestone
The price of bitcoin has now spent more than 100 days trading above the psychologically and technically significant level of 100K. There is wider adoption when round numbers are broken in the previous cycles. However, this time around the achievement has managed to attract little attention of overall market and despite powerful technical clues, such as the 200-day moving average crossing the 100K mark, the news has not made too much noise.
Institutions the Vacuity
Application on an institutional level has exploded. Sizable retirement savings also offer crypto investment, such as Bitcoin. Flow of ETFs and long-term holders predominates and early crypto-whales are gradually selling. The change heralds a different dimension in which traditional finance leads in crypto markets.
Consumer Retail Loss is Personal
Retail appears to be not interested even despite supportive U.S. policies and high prices. Even though Bitcoin is regarded as a saving instrument instead of an exotic trade today, the lack of the daily users makes it seem that the soul of crypto has died out. It ceases to be fun anymore to many of them- it becomes a business.
