Retail Isn’t Back—So Who’s Buying Bitcoin?
Plus: The Hottest Memecoin Race
Hi trader,
Hope you've enjoyed the latest market rally. Today's newsletter will equip you with some extraordinary insights. Here's what's contained:
Retail Isn’t Back—So Who’s Buying Bitcoin?
Memecoin Battle
Top 10 Tokens with the Highest Long Rates
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Retail Isn’t Back—So Who’s Buying Bitcoin?
Bitcoin trades close to 100k, memes are hyped, and many altcoins have pumped like crazy.
And here's the most exciting part: retail interest is nowhere near previous highs.
So, if retail isn’t fueling this bull market, who is? Let’s break it down:
Retail Interest: What The Data Says
Here's what the data says:
Google Searches for Bitcoin and crypto terms are increasing but remain far below prior peaks.
The Kimchi Index (see attached chart), which measures the price gap between US and South Korean Bitcoin markets, is a negative sign of low retail demand. Historically, a higher South Korean Bitcoin price signals strong retail activity. Today, it’s lower.
Exchanges and Market Makers are openly reporting low retail participation.
The retail crowd isn’t here. But the price of Bitcoin keeps climbing. Why?
The Real Buyers: Institutional Players Take Center Stage
Instead of retail, institutional buyers have mainly driven Bitcoin's price.
Big Players Are Accumulating: MicroStrategy and Spot Bitcoin ETFs—institutions are stocking up on Bitcoin.
Post-Election FOMO: Institutional investors are dipping their toes into Bitcoin, allocating a fraction of their portfolios following the US elections. It’s small for each investor but adds up to massive buying pressure.
Retail’s Current Role: We see little retail presence, mostly selling Bitcoin to move into altcoins.
Bitcoin remains institution-dominated for now.
What Happens When Retail Comes Back?
If Bitcoin thrives without retail, imagine what happens when retail FOMO finally kicks in. Right now, we might witness an early beginning. Altcoin seasons tend to follow big Bitcoin moves, further amplifying the market.
So, we might just be in the early stages of a bull market. Retail isn’t here yet, but this could be explosive when it comes.
Key Takeaway
The current Bitcoin rally isn’t retail-driven, but that’s precisely why it’s so compelling. Institutions are laying the foundation. The stage is set. Buckle up. 🚀
Memecoin Battle
Here's the Ultimate Meme Coin Battle — Top Meme Coins by Market Cap: A 1-Year Race You Can’t Miss! 🚀
From PEPE to FLOKI and BONK, see how your favorite meme coins stacked up against the competition. 🔥
Coins featured in the race: PEPE, WIF, BONK, FLOKI, BRETT, POPCAT, PNUT, MOG, MEW, GOAT, NEIRO. Discover the highs, the lows, and the surprises in this visually stunning journey through the meme coin market.
Top 10 Tokens with the Highest Long Rates
Here are the top 10 tokens with overwhelmingly bullish market sentiment. Traders placing high percentages of long positions compared to shorts. While this can indicate confidence in upward momentum, it also comes with potential risks.
Aevo $AEVO – 87.53% long
Fetch.ai $FET – 86.95% long
Portal $PORTAL – 86.84% long
Xai $XAI – 86.49% long
Notcoin $NOT – 86.22% long
Jupiter $JUP – 85.94% long
Starknet Token $STRK – 85.90% long
Worldcoin $WLD – 85.70% long
Dogs $DOGS – 85.25% long
Manta Network $MANTA – 84.75% long,
What Does This Mean?
Bullish Sentiment: A high percentage of long positions suggests that traders are optimistic about the token’s price moving up.
Risk of Squeeze: If the market moves unexpectedly in the opposite direction, these positions could face liquidation, leading to sharp price moves in the other direction (aka a long squeeze).
Takeaway: High long rates can signal confidence and upcoming price surges, but they also bring potential risks if the broader market sentiment shifts.
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Happy trading,
Ben