Darkfost
Bitcoin : Retail investors are still on the sidelines !
There’s been a lot of talk about retail investors during this cycle, and here’s one more piece of evidence showing they remain relatively missing, despite BTC hitting multiple ATHs since 2021. Today, we’re seeing the lowest number of addresses categorized as "shrimps" (holding <1 BTC) since 2021. — Back at the 2021 ATH, there were around 590 000 shrimp addresses. At the April 2024 ATH, that number had dropped to 490 000, and today, with another ATH just around the corner, we’re down to only 260 000. We can also observe that the 30-day average is evolving well below the yearly average. This clearly shows a lack of retail enthusiasm, and further confirms that BTC network activity remains fairly weak. While it's worth noting that some addresses may have changed category over time as they accumulated more BTC but this only concerns a minority.