"The Bitcoin price climbed back above $71,000 over the weekend, extending its rebound after one of the sharpest sell-offs of the cycle sent the price briefly plunging toward $60,000 earlier this week. The recovery comes as institutional investors appear to be treating sub-$70,000 bitcoin as a renewed buying opportunity, even while retail traders search for signs the market has reached a bottom. Bitwise CEO Hunter Horsley said in a CNBC interview that bitcoin's pullback is landing differently with large investors than with long-time holders."
"Retail traders are searching for a signal While institutions have been stepping in, retail participants have been scanning the market for confirmation that the sell-off has fully exhausted itself. Sentiment platform Santiment said in a weekend report that retail traders are "meta-analyzing" the downturn, looking for proof that others are quitting before re-entering the market - behavior that often emerges near market lows."
Bitcoin rebounded above $71,000 after a steep sell-off pushed the price toward $60,000 earlier in the week. Institutional investors treated sub-$70,000 levels as buying opportunities, with some seeing prices they thought were permanently missed. Long-time holders showed uncertainty as institutions acquired positions amid a macro-driven selloff across liquid risk assets. Retail traders searched for signals and engaged in meta-analysis to time re-entry, seeking signs that others were quitting. Google Trends showed a 12-month high in Bitcoin searches, and queries for "crypto capitulation" surged as price volatility spiked.
Read at Bitcoin Magazine
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