Bitcoin trades ~$105K, ~5% below its recent $111K ATH; on-chain metrics look promising.
Retail BTC demand fell 2.45% in 30 days, not typical of major market tops.
Analysts eye $96,700 as crucial BTC support; technicals show short-term pressure.
Bitcoin’s price action over the past few weeks has investors speculating whether the recent pullback from its all-time high is merely a pause before another leg up–or a sign of deeper corrections ahead.
As BTC trades around $105,396.85, roughly 5% below its ATH of $111K set just 13 days ago, on-chain metrics paint a promising picture.
Retail Demand Cools; Analyst Sees Room for Further BTC Upside
According to analyst “caueconomy,” retail demand, measured by Bitcoin transactions below $10,000, has fallen 2.45% over the past 30 days. Historically, such subdued retail activity has not accompanied major market tops, which are typically characterized by frenzied buying from smaller investors.
https://twitter.com/cryptoquant_com/status/1930164956973953073
The analyst suggests that the recent price surge for Bitcoin has yet to ignite the kind of emotional buying that marks long-term tops, leaving room fo…
The post Why Slow Retail Buying Could Actually Be Good News for Bitcoin appeared first on Coin Edition.
