Bitcoin’s been surging towards $70,000, yet small investors, the everyday people putting bits of their paycheck into Bitcoin, seem less active than before.
Surprisingly, this could be a good thing.
This is because historically, when smaller players slow down, we often see big price jumps later on. Right now, retail Bitcoin holders only added about 1,000 BTC in the last month. This is nothing compared to the big investors, who’ve been stocking up on thousands of BTC this year. But maybe it’s a matter of timing.
These retail investors aren’t selling off what they already have either. Bitcoin moving from small accounts has dropped from 2,700 BTC to just 1,400 this year. That’s low, which tells me they’re holding on, perhaps waiting for something big.