On-chain data shows that Bitcoin retail buyers have been loading up the recent dip, a move that also coincided with price gains above $26,000, relieving traders and holders. Early this week, BTC prices crashed to as low as $24,820 before recovering to spot rates, adding 8% in four days. Retail Investors Are Buying The Dip Following a turbulent week in the crypto space, which involved the United States Securities and Exchange Commission, Binance and “crypto” securities-related drama, the price of Bitcoin dipped below $25,000 after the Federal Reserve paused their rate hikes and keeping the US fund rate within the 5% and 5.25% zone, increasing the uncertainty within the market. Related Reading: Polygon (MATIC) Witnesses High Volatility Amid Positive Developments However, the crypto market has since rebounded, with retail bitcoin investors, characterized by those holding 0.01 to 1 BTC, stepping in to buy up the dip. Interestingly, the dip-buying behavior exhibited by retail investors is similar in level to that observed during the Silicon Valley Bank (SVB) collapse earlier in the year, but less than that of the post FTX collapse crash which saw ..
Support the originator by clicking the read the rest link below.
