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Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
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Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Bitcoin Records Surge In Retail Investors – Is A Price Rebound On?

Semilore Faleti
Semilore Faleti
1 year ago
2 mins read
Bitcoin

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According to data from CoinMarketCap, the price of Bitcoin declined by 5.25% in the past week falling below the $60,000 mark. This price dip adds to the string of negative performances in the last month during which BTC has lost 9.88% of its value. 

However, Bitcoin has recently seen an increase in buying interest despite its recent price dips and popular notions that the maiden cryptocurrency is bound to remain in a consolidation state for now. Prominent crypto analyst Ali Martinez has now stated another development that characterizes the resilient interest in Bitcoin amidst its current overall bearish trend.

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Retail BTC Investors Return In Numbers: Incoming Price Rally?

In an X post on Saturday, Martinez reported that the number of new Bitcoin (BTC) addresses reached 352,124 on Friday. This figure marks the highest level since April and breaks a downtrend that has persisted since November 2023.

Based on this data, the crypto analyst announced a resurgence in the number of retail Bitcoin investors indicating renewed interest from key players in the market. For context, retail investors refer to individual investors who trade assets for their personal accounts. They typically trade in smaller quantities than organizations but are quite important for market stability and liquidity.

Retail #Bitcoin investors are making a comeback! The number of new $BTC addresses on the network surged to 352,124, marking the highest level since April. pic.twitter.com/GFOHnsokz0

— Ali (@ali_charts) June 29, 2024

 

Generally, a rise in retail investors represents an increase in the token’s demand due to an influx of new participants to the market which can subsequently translate into a rise in market price. Furthermore, this surge in new addresses can be interpreted as a positive signal stating that individuals have disposable income and are willing to invest in speculative assets like Bitcoin. 

Finally, retail investors can also serve as a barometer for market sentiment with their increased activity indicating a broader bullish sentiment on Bitcoin’s future in the market.  Interestingly, Bitcoin’s price already saw a slight increase of 0.92% on Saturday, briefly surpassing the $61,000 mark. However, it is still too early to determine if this price bounce could trigger a market rebound for the most valuable cryptocurrency.

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Bitcoin Price Overview

At the time of writing, Bitcoin is trading at $60,884, as it continues to move within the $60,100 to $63,200 range. The token’s daily trading volume has decreased by 49.16% and is now valued at $12.7 billion.

If Bitcoin bulls can generate sufficient buying pressure to break out of this sideways movement, the asset could potentially return to $67,000. Conversely, if the coin experiences a price breakdown, it could fall as low as $40,000.

Bitcoin
BTC trading at $60,849 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from The Defiant, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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