Crypto
Bitcoin's Upward Momentum Fades as Small Investor Demand Wanes
Bitcoin's momentum is waning as data shows that demand from small investors has decreased. According to recent figures, the 30-day change in small investor demand for Bitcoin has dropped to -3.5%, down from a high of 17%. This indicates that the upward trend may be losing steam.
The momentum indicator has also reached zero, suggesting that the direction of price movement is becoming less certain. However, it's too early to say whether this signals a reversal in the trend.
Strive, a company that bought 6,106 Bitcoins between August 24 and September 25 for $490.77 million, has become one of the top holders of BTC among publicly traded companies worldwide, with a total of 27,462 Bitcoins.