Are retail investors returning to the Bitcoin market?

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Cryptodnes2024/07/02 13:22

By:Cryptodnes

A popular crypto analyst believes that retail investors are returning to the Bitcoin (BTC) market, as evidenced by the growth of new addresses, despite market fluctuations.

Recently, crypto expert Ali Martinez shared a graph showing a significant increase in new addresses of BTC , which breaks the previous downtrend.

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

“Small Bitcoin Investors Are Back! The number of new BTC addresses on the network rose to 352,124, marking the highest level since April”, Martinez emphasized.

He also pointed out that Bitcoin miners are selling off their positions, a trend often seen before the start of a Bitcoin bull market.

The Japanese company Metaplanet announced another purchase of Bitcoin

At the same time, Martinez also noted the spike in BTC's buy/sell ratio.

Someone at @Bybit_Official is buying the # Bitcoin dip, evident from the recent spike in $ BTC taker buy/sell ratio! pic.twitter.com/2YtCnhiaLY

— Ali (@ali_charts) June 29, 2024

According to Martinez's chart, BTC's buy/sell ratio stands at 12.306. A value above 1 suggests that BTC bulls are placing long positions at market prices.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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