Oh, the joys of observing the retail Bitcoin (BTC) investors in their natural habitat. It appears they’ve been cooped up all month, and now they’re bursting out to buy some digital gold. According to the esteemed Glassnode, a platform that’s all about on-chain market intelligence, those cute little retail investors are stocking up on BTC like there’s no tomorrow.
Glassnode’s golden nugget
Apparently, these retail investors, affectionately known as the Shrimp and Crab cohorts, have ammassed a delightful 25,600 BTC in the last month. This is roughly 1.9 times the amount of new Bitcoin that was minted, which, if math wasn’t your forte, is a rather impressive feat.
“Demand from retail investors for #Bitcoin at prices around $100K remains strong – The Shrimp-Crab cohort (up to 1 and 10 #BTC, respectively) absorbed 1.9x the newly mined Bitcoin supply last month, a total of +25.6k $BTC:
— glassnode (@glassnode) 2023-01-23
And, as one might have guessed, these little retail investors are buying up BTC at prices around $100,000. Who wouldn’t want to acquire some of that sweet, sweet digital gold, am I right? 🤑
This sudden influx of retail activity, much like a rabbit caught in one’s headlights, might be an indication that the recent surge in Bitcoin’s price isn’t just a product of existing investors’ whims or some whale partying in the background. No, no! This could very well be the start of an accumulation-phase trend, signaling to the investor community that the floodgates are about to open and the price of Bitcoin will soon rise (dramatically, of course).
However, in all seriousness, history has shown us that retail investors are, for better or worse, more susceptible to panic when the market gets a bit wobbly. As such, it’s entirely possible that sentiment could shift, and the little investor rabbits might scurry for cover, potentially causing the price of Bitcoin to dip.
For now, the current price of Bitcoin stands at $102,395, down a whopping 3.5% in the past 24 hours. Guess someone out there’s looking to acquire some undervalued digital goods! 🤑
Whales, oh whales!
And if you thought the retail investors were busy, just wait until you hear about the whales! It seems they’ve recently resumed their activities, with a spot Bitcoin Exchange-Traded Fund (ETF) bringing in a whoppng $248 million. Meanwhile, Larry Fink, the CEO of BlackRock, has been touting the potential for Bitcoin to reach the $700,000 Price Is Right stage! Yes, that’s right, $700,000! 🔥 However, his prediction largely hinges on the ability of Bitcoin to attract even more institutional investment. Because, you see, it’s not like there aren’t already funds and wealth out there to buy up digital good. 🤑
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2025-01-23 17:45