Bitcoin’s retail investor demand has fallen to a three-year low, dropping below negative 15% in the past 30 days.
Spot Bitcoin ETF inflows in the U.S. decreased by 87% on July 17, totaling $53.3 million across 11 tracked products.
Search interest for “Bitcoin” dropped 44% over the past three months since the halving event, indicating a decline in retail interest.
Bitcoin retail investor demand has reached a three-year low, sparking anxiety among crypto experts. Ki Young Ju, the creator of CryptoQuant, claimed that the average monthly change in retail demand for Bitcoin has fallen below -15 percent over the last 30 days. This reduction is based on the 30-day change in total transfer volume for transactions less than $10,000.
#Bitcoin retail investor demand is at a 3-year low. It's measured by the 30-day change in total transfer volume for transactions under $10K.h/t @AxelAdlerJr pic.twitter.com/GnosvQUa7G
— Ki Young Ju (@ki_young_ju) July 18, 2024
Institutional vs. Retail Transactions
Institutional transactions normally involve greater quantities, but ordinary investors play an important role in fueling huge market increases. Minkyu Woo, a CryptoQuant writer, underlined the need of considerable buying volume from ordinary investors in kicking off a meaningful bull run. Despite the present slump, the market has not received the expected volume from ordinary investors.
Jan van Eck, CEO of VanEck, stated that ordinary investors are expected to drive the majority of inflows into spot Bitcoin exchange-traded funds (ETFs) in the United States. However, current figures indicate a considerable drop in retail involvement. On July 17, spot Bitcoin ETF inflows in the United States decreased by 87% from the previous day, reaching $53.3 million across 11 monitored ETFs.
Bitcoin’s Struggle to Maintain Support Levels
Bitcoin has struggled to sustain important support levels, momentarily topping $65,000 on July 17 before falling down to $63,521. Since then, it has failed to break above this level, trading at $63,975 as of publishing, according to CoinMarketCap statistics.
Search interest in the keyword “Bitcoin” has dropped dramatically by 44% in the three months following the Bitcoin halving event. This drop in search interest, which generally implies broad interest among retail investors, highlights the market’s present lack of excitement.
The recent drop in retail demand for Bitcoin indicates a critical era for the cryptocurrency. Economists say the market would struggle to maintain a bull run without a rebound in retail interest. As Bitcoin faces these issues, the conduct of both retail and institutional investors will be widely watched.
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