Cointelegraph Consulting: Institutions are optimistic about Bitcoin, but what about retail?

13. Dezember 2020

Graphs and data from the last two weeks show that retail traders have fallen and the purchase of BTC has been stopped.

Cointelegraph Consulting: Institutions are optimistic about Bitcoin, but what about retail?

Santiment’s latest findings, published in Cointelegraph Consulting’s bi-weekly newsletter, indicate that the combined balance of portfolios with small amounts of Bitcoin (BTC) continues to decline. This shows a downward trend in retail holders, which contrasts sharply with the aggressive accumulation strategies of large holders.

Social media metrics reinforce what is being seen in on-chain analysis.

Average sentiment toward Bitcoin has declined consistently over the past two weeks, pointing to growing crowd fatigue toward the short-term potential of the major currency.

Another declining number was turnover. Since its November peak of US$60 billion, Profit Revolution review turnover has been declining, reaching only US$29 billion on December 9th. With a drop in sentiment, retail interest and volume of trades, many are skeptical that the new historic high can be broken through.

However, it is worth mentioning that the low sentiment and the lower interest in retail are signs of purchase for those seeking evidence of space for growth. The two biggest breaks in Bitcoin this year, in July and October, originated from a predominantly bearish sentiment.

Read the full newsletter for more news and signs, complete with detailed graphics and images.

Cointelegraph’s Market Insights newsletter shares our knowledge of the fundamentals that drive the digital asset market. With market intelligence from one of the industry’s leading analysis providers, Santiment, the newsletter analyzes the latest data on social media sentiment, on-chain metrics and derivatives.

We also review the industry’s most important news, including mergers and acquisitions, changes in the regulatory landscape and corporate blockchain integrations. Sign up now to be the first to receive these insights. All previous editions of Market Insights are also available at Cointelegraph.com.br.

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