Bitcoin Price Prediction Amid Renewed Interest from Small Investors – Bull Market Returning?
Bitcoin price is currently trading at $64,380, exhibiting a bearish bias below the $64,500 pivot point mark. Data from CryptoQuant indicates a significant link between individual account activity and Bitcoin price movements.
A peak in individual demand was observed shortly after Bitcoin hit an all-time high of $73,738 on March 14, 2024. This increased interest from retail investors suggests they are more inclined to invest during price fluctuations and can potentially stabilize the market during downturns.
Over the past few weeks, the interest from retail on-chain accounts has increased by 7%, which analysts see as a positive indicator for BTC price prediction.
Macro analyst Axel Adler highlights that retail interest in Bitcoin has risen by 7% compared to the local bottom in May. He notes that while predicting a full recovery is premature, the increased interest from retail investors is promising.
As Bitcoin declines, there is a resurgence in demand from retail investors (+7%).
It's too early to talk about a full recovery, but the signal is positive. pic.twitter.com/DaErcqB70k
— Axel
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