Despite increasing interest from both institutional and retail investors, Bitcoin has been unable to push past the $70,000 mark since late July.
Retail demand for Bitcoin has reached its highest level in over six months, last seen in March 2024 when Bitcoin hit a new all-time high above $73,600. Over the past 30 days, retail interest surged by about 13%, according to data from on-chain analytics firm CryptoQuant.
However, despite this rising demand, Bitcoin’s price has been unable to gain significant upward momentum. On October 23, Bitcoin dropped by 1.5% over the last 24 hours, trading at $66,432. Even with the growing interest from both retail and institutional investors, the cryptocurrency has struggled to surpass the $70,000 barrier since July 29.
Summary Review: Bitcoin’s price remains below $67K despite increased demand from both retail and institutional investors. Retail interest hit a six-month high, but Bitcoin has struggled to break the $70,000 mark since July, with recent drops in value highlighting this challenge.
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