30s Summary

Bitcoin retail activity has spiked, mirroring the cryptocurrency’s high values, with sub-$1,000 transactions increasing by 13% according to CryptoQuant’s Quicktake blog. Despite less interest since high values in March, retail demand has shown growth in the last 30 days while large investors continue to operate at high levels. Higher values have prompted smaller investors to return to trading. Crypto market experts are observing levels of risk aversion as Bitcoin nears July highs, potentially attracting attention from retail investors. Meanwhile, despite Bitcoin’s peak value since June, the Coinbase premium remains marginally positive.

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Bitcoin retail activity is heating up, mirroring Bitcoin’s high values after a long period of quiet. According to CryptoQuant’s Quicktake blog, transactions under $1,000 have shot up by 13%.

The interest of everyday Bitcoin investors hasn’t been very high since Bitcoin values reached record highs back in March. Interest among non-institutional investors has been somewhat low, but there are indications that things are about to change.

CryptoQuant holds that transaction volume data might be the key to interpreting these trends. The last 30 days saw a growth in retail demand by around 13%. This sort of growth hasn’t been seen since March, around when we almost reached a record high.

Over the past 4 months, the participation of small investors has decreased, while big players (“whales”) have maintained high levels of transactions and absorbed a lot of coins.

In the 30 days leading up to October 20, Bitcoin’s value rose nearly 10%. During that same period, transactions under $1,000 increased by 13%. Charts from that time frame are similar to the time leading up to the peak in March.

Increased Bitcoin values have caused small investors to return to trading. This can be seen as the start of a trend towards less risk aversion.

Despite Bitcoin making a big trip up to $69,000, the premium on Coinbase (the difference between the price of Bitcoin on Coinbase and Binance) remains low. Crypto market experts are monitoring the level of risk aversion closely.

Though Bitcoin and Ethereum have both come close to their July highs, they haven’t quite surpassed them yet. A break above those levels would likely garner a significant amount of attention from everyday retail investors.

The increased interest in Bitcoin among U.S. retail investors remains fairly stubborn. Even as Bitcoin reaches its highest weekly value since June, the Coinbase premium is just barely positive.

Source: Cointelegraph