The decline in the price of bitcoin following the rally has unearthed some underlying weaknesses that were not easily seen before. The run-up and eventual rundown from $25,000 have shown that retail investors are not as moved by the market as expected. Even now, transaction volumes for retail investors remain muted, indicating that the burnout from the rally was actually a result of low bullish sentiment. Bitcoin Retail Volume Remains Low In a recent report, Glassnode points to the low retail volume as an indicator of the weakness of the market. Usually, retail investors react to long bullish phases and, as such, tend to increase their transaction volumes at the same time. But during this last bullish rally, there was really no change in how much volume bitcoin retail investors were moving. Related Reading: Another Red Weekly Close For Bitcoin, Why A Rebound Is On The Horizon The chart shows a decline from around June, which coincides with when the market crash happened. However, since then, the downtrend has been consistent. So instead of increasing their transaction volumes as expected when the price was recovering, they continued to reduce their volume, falling below $10,000 on average. BTC retail interest remains muted through recovery | Source: Glassnode The report points to this being an obvious weakness in the market because there was no volume or demand accompanying the shift in market sentiment. This is understan...
Coinbase Delists MOVE Token Amid Controversy
