According to Ki Young Ju, the founder and CEO of CryptoQuant, retail investors in Bitcoin have not yet reached the level of fearing that they would lose out on financial opportunities.
As Bitcoin continued its slump from around $100,000 the previous week, Young Ju expressed this viewpoint as the cryptocurrency's price dropped below $92,000. The Chief Executive Officer of CryptoQuant emphasized that during the most recent retail trading behavior, there have been no indications of fear or extreme enthusiasm.
In a post on X, the analyst said that "Bitcoin retail investors are not yet in fear of missing out." The spike in trade count across all exchanges, tickers, and marketplaces is the basis for this indicator, which is based on the surge.
Up until the 25th of November, the indicator stayed in a neutral position, which is a position it has held since April, when Bitcoin was trading about $64,000. There was a peak in retail fear of missing out (FOMO) in January 2021, when Bitcoin exceeded $30,000, which drove its price to an all-time high of $69,000 during that cycle. This occurred during the last bull market.
In spite of the fact that Bitcoin was getting close to $100,000 only the week before, observers have noticed that individual investors have not yet joined the market in significant numbers.
The market is lacking impetus to drive Bitcoin above $100,000 due to the impending holidays in the United States as well as important economic data such as tonight's minutes from the Federal Open Market Committee and tomorrow's release from the Consumer Price Index. After the election, Bitcoin was significantly overbought, which made a cooldown unavoidable, according to what QCP wrote.
However, the dips are hardly "panic-worthy," and the optimistic sentiment over Bitcoin continues. This is in spite of the fact that millions of dollars have been liquidated in the previous twenty-four hours and that spot Bitcoin ETFs had outflows of $438 million on November 25. In addition, MicroStrategy purchased Bitcoin valued 5.4 billion dollars.
An further factor that lends credence to a positive outlook is the Bitcoin Fear & Greed Index, which has a rating of 77, which indicates high greed while the price of Bitcoin continues to linger below $92,000.
Ali Martinez, a cryptocurrency expert, pointed out that there is a possibility that the price can rebound to $95,000 or more, citing a buy signal from the TD Sequential indicator.
