Bitcoin on its Deathbed! Will Retail Investors Come to the Rescue?

The crypto market is known for its volatility, and the recent movements of Bitcoin (BTC) are no exception. Bitcoin holders recently experienced the biggest three-day drop of non-empty wallets since the all-time high on March 14. This drop triggered 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 Drops Day by Day 

Unlike the period before the March peak, where optimism prevailed with the anticipation of a price rise, the current sentiment is marked by uncertainty and fear of a continuous devaluation. At the time of writing, bitcoin is trading at around $61,047! Significantly lower compared to its peak of over $71,000 earlier this month.

This downward trend has triggered massive selling among BTC holders, with the largest drop of non-empty wallets in three days since the historic peak. Santiment data shows that bitcoin wallets are emptying at the fastest rate since March 14. This indicates a shift in market dynamics.

📊 Bitcoin holders have just had their biggest 3-day drop in non-empty wallets since just prior to the March 14th all-time high. Unlike then, BTC has been sliding, provoking traders to liquidate for fear of further drops. Meanwhile, Ethereum wallets keep growing in number. pic.twitter.com/UIfXLkJ1HH

— Santiment (@santimentfeed) June 18, 2024

Can Retail Investors Reverse the Trend?

The burning questions on every investor’s lips are: where are the retail investors? Currently absent from the market, can they catalyze a surge of bitcoin beyond $70,000?

The reasons for the absence of retail investors are numerous. However, it is clear that the return of these actors could potentially propel Bitcoin to new heights. Institutional investors have made substantial profits. And if retail investors manage to overcome their fear and enter the market, it could significantly impact 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 a new ascent. With a combination of institutional and retail money, Bitcoin could not only surpass the $70,000 mark! But also reach new all-time highs. The future of Bitcoin looks promising, and the return of retail investors could very well be the beginning of a new era for the world’s premier crypto.