Bitcoin Holds Above $80,000 Even as Retail Demand Drops 5.4%
Minseung Kang
Summary
- Retail investor demand for Bitcoin fell about 5.4% over the past 30 days, but the price has remained firmly above $80,000.
- CryptoQuant said Bitcoin has held the $80,000 level despite weaker buying pressure from retail investors, showing the current rally is not being driven by FOMO.
- CryptoQuant said that if retail demand returns while prices remain on a resilient trend, it could provide fresh momentum for the next upward phase.
Forecast Trend Report by Period
Bitcoin has held firmly above $80,000 even as retail investor demand for the cryptocurrency has slowed in recent weeks.
According to on-chain analytics platform CryptoQuant on Sept. 29, retail demand for Bitcoin fell about 5.4% over the past 30 days after rising more than 15% on Aug. 15.
CryptoQuant highlighted that Bitcoin has maintained the $80,000 level despite weaker buying pressure from individual investors. That suggests the current upswing is not being driven by retail chase buying, or so-called FOMO.
CryptoQuant said renewed retail demand could provide fresh momentum for the next leg higher if prices continue to hold up.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.