Bitcoin reached the $56,000 mark on Tuesday ushering the cryptocurrency market into a new bullish era. The cryptocurrency market is brimming with new investments and BTC’s rise is pushing leading altcoins to touch new weekly highs. BTC is now only $13,000 away from reaching its all-time high of $69,014 which it reached in November 2021. The leading cryptocurrency fell to $16,500 in January 2023 but sustainably scaled up to $56,000 in February 2024.
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The price action stems after the SEC approved the Bitcoin ETF in mid-January pushing its price to these levels. While institutional investors are going after Bitcoin, retail traders seem to be missing in action. The financial institutions are taking up a larger share of the pie of BTC profits while retail traders are watching the show.
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Bitcoin: Retail Traders Miss The Profits As Institutional Investors Enjoy BTC Price Rise
Data from a Google search indicates that retail investors have not made the most out of Bitcoin’s rise to $56,000. The reason could be that retail holders have already invested in altcoins and have their money stuck due to the downturn. Another reason could be that retail investors feared that BTC had peaked and could head south.
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After BTC touched $50,000, retail holders believed that buying the king cryptocurrency now was a mistake as it was at the top. Little did they know that it would hit $56,000 in less than three weeks. The reasons for retail holders missing in action are aplenty and institutional investors made stellar profits.
However, even if retail investors leave their fear behind and enter BTC, it could take its price to a new ATH. A combination of institutions and retail money could do wonders for the price of Bitcoin. Whether retail holders will move ahead now and take entry positions, will have to be seen.