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After a nervy period of negotiations, the United States (US) and the European Union (EU) have inked a major trade deal ahead of the August 1 tariff deadline. The reports have triggered a rally in the crypto market with Bitcoin, Ethereum, and BNB leading the price spike. US, EU Pen Fresh Tariff Deal The US
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The post Bitcoin Nears All-Time Highs, But Retail Interest Still Remains Low appeared first on Coinpedia Fintech News
Bitcoin is racing fast toward its all-time high of $109,111, with prices surging. But despite this strong rally, the retail interest is still subdued. Wikipedia searches for cryptocurrencies are low again, even as Bitcoin briefly touched $108,000 level today. This shows that people are not very confident right now.
Markets might be in a phase of disbelief or the excitement may have cooled off. Historically, big jumps in interest happened when the market was very excited and prices were at their highest.
The search interest related to Bitcoin on Google Trends also remains low. This can be compared to the bear market period of 2022, when Bitcoin was trading only around $16,000. Despite Bitcoin’s price jumping 6x since 2022, the interest remains significantly low.
One X user observed that retail investors are not excited by Bitcoin’s price alone. Instead, they tend to jump in when altcoins skyrocket. The takeaway here is that altseason is when retail truly shows up, and that’s when big players use the hype to sell. Until that euphoric altcoin surge happens, the bull market is not over.
This view also aligns with Matrixport’s take that most Bitcoin is being held by long-term investors and not everyday people. The lack of retail investors may explain why Google search interest for Bitcoin remains low, even as its price approaches record highs. Some in the crypto space see this as a bullish sign, calling it the “silence before the detonation.”
But it also raises concerns over the sustainability of the current rally as the markets may lack the liquidity needed for long-term growth. Still, the long term outlook is optimistic with bullish targets for Bitcoin.
The post Bitcoin Nears All-Time Highs, But Retail Interest Still Remains Low appeared first on Coinpedia Fintech News
Bitcoin is racing fast toward its all-time high of $109,111, with prices surging. But despite this strong rally, the retail interest is still subdued. Wikipedia searches for cryptocurrencies are low again, even as Bitcoin briefly touched $108,000 level today. This shows that people are not very confident right now. Markets might be in a phase …
The Federal Reserve, FDIC, and Office of the Comptroller of the Currency have jointly issued new guidance on how U.S. banks should approach crypto custody services. The statement is aimed at banks already involved or considering involvement in holding crypto-assets for customers. Banks Must Meet Strict Standards Before Offering Crypto Custody Services The statement restates
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Earlier this week, Coinbase revealed a significant cyberattack and data breach. Being a leading crypto exchange, the breach has put the personal data of influential figures at risk. As per the latest reports, Sequoia Capital’s Managing Partner, Roelof Botha, is also among the high-profile victims, with hackers accessing sensitive information, including phone numbers and addresses. Reports also suggest that exchanges like Binance and Kraken have also faced similar incidents. Concerns are now being raised about potential security vulnerabilities and the exposure of other prominent individuals’ data. Coinbase Hack Exposes Sequoia Capital Botha’s Info According to a Bloomberg report on the Coinbase hack, critical data belonging to high-profile executives like Sequoia Capital’s Roelof Botha is now in the hands of perpetrators. The hack has raised concerns about the safety of prominent crypto industry leaders. Notably, Roelof Botha is a prominent South African-American venture capitalist who joined Sequoia Capital in 2003. He… Read More at Coingape.com
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