market demand

QCP Capital: Macroeconomic market volatility has eased, and Bitcoin still needs key catalysts to break through $100,000

ChainCatcher news, QCP Capital's latest analysis points out that Bitcoin recently faced $1.5 billion in long liquidations, with the price plummeting by 3,000 points before rebounding at the critical support level of $95,000, currently consolidating in the $97,000-$98,000 range. This round of correction has also affected many altcoins.In terms of institutional entry, Bitcoin and Ethereum spot ETFs recorded net inflows for 8 and 11 consecutive days, respectively. Mining company Riot Platforms announced it would follow MicroStrategy's strategy, planning to issue $500 million in zero-coupon convertible bonds to purchase Bitcoin, a plan that has already garnered strong market demand. Notably, Microsoft shareholders will vote today on incorporating Bitcoin into the balance sheet. Although the board recommends against it, approval could lead to an unexpected surge. Meanwhile, reports indicate that Amazon shareholders are also pushing for Bitcoin to be used as a reserve asset.QCP points out that with the political situation stabilizing in France and South Korea, and China's commitment to launching economic stimulus policies, macro market volatility has eased. Bitcoin and Ethereum's short-term volatility remains high and leans towards put options. Analysts believe that a breakthrough of the $100,000 threshold for Bitcoin still requires key catalysts.

CryptoQuant: The activity of retail investors in Bitcoin rebounded in October

ChainCatcher news, according to The Block, based on data from CryptoQuant, retail investor activity has slowed down from June to late September, but has started to pick up since October. The agency noted in a report released on Tuesday: "In the past 30 days, retail demand has increased by about 13%, showing a trend similar to when we approached the previous historical peak in March."The report pointed out that the increase in retail demand for Bitcoin is occurring alongside a rise in institutional interest. While retail investors are returning to the market, institutional investors have been steadily increasing their investments in Bitcoin this year. This contrasts sharply with the first quarter of 2024, when market demand was primarily driven by large investors. The current dynamics of retail and institutional investor demand are similar to previous Bitcoin market cycles, and the recent increase in retail activity may signal a similar pattern of renewed optimism.To gauge retail investor demand, CryptoQuant focused on several key indicators. One of them is tracking the total amount of Bitcoin held in wallets that hold less than one Bitcoin. This total has increased from 1.734 million Bitcoins in mid-March to the current 1.752 million Bitcoins, an increase of 18,000. Another indicator is the volume of on-chain transactions below $10,000, which reflects the activity of small investors and provides a reference for the market sentiment of non-institutional investors.
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