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Can the price of Bitcoin exceed $100,000 as individual investors withdraw?
Bitcoin is currently trading at 97,834 levels. It shows a slight decrease of 0.31% on the daily chart. Last week, BTC achieved a modest gain of 3.07%, creating some optimism in the market. However, its inability to surpass 100K reveals a more complex market story.
One of the main factors affecting Bitcoin's recent performance is a significant decrease in individual investor interest. According to data from CryptoQuant, Bitcoin's individual demand decreased by 16% following a market correction after reaching an all-time high. Individual investors, who make emotional decisions, withdrew from the market collectively. This supported the transition of Bitcoin from weak hands to strong hands.
Individual investors played a significant role in the initial rise of Bitcoin towards the 100K level. As BTC approaches the 100K level, there has been a more than 30% increase in individual demand over the past 30 days. Historically, when the variation in individual demand exceeds 15%, it usually indicates local market peaks. This trend has also been observed when Bitcoin reached the 108K level. Subsequently, a correction occurs.
When the individual demand variation drops below 10%, it indicates a decrease in speculative activities in the market. Although this situation is seen as a decline, it creates an opportunity for experienced investors to accumulate BTC at lower prices.
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