Bitcoin Market Analysis: Stability Amidst Aggressive Retail Investment

Bitcoin exchange reserves, measured in USD, have remained stable since April 2022, suggesting minimal impact on price volatility. This stability is further reflected in the Stablecoin Supply Ratio (SSR), which is at its lowest point this year, driven by a sluggish altcoin market and low volatility rather than Bitcoin itself.

Despite the market's struggle to break out of a large trading range, retail investors have shown increased aggression during technical rebounds from price lows. The average purchase price for holders with less than six months of holding time ranges between 57,816 and 66,976 USDT, indicating investments at relatively high levels.

As we move into Q4, the critical factor will be whether Bitcoin can maintain the 49,000 to 53,000 USDT price range and build new momentum. The market remains optimistic, with the potential for stability and growth driven by macroeconomic factors and high-leverage investments.