tl;dr
Ki Young Ju, the CEO of analytics firm CryptoQuant, reports increasing signs of retail participation in the Bitcoin bull market. He notes a spike in sub-$100,000 transactions on the Bitcoin blockchain, indicating growing involvement of smaller retail entities. Additionally, Ju shares data suggesting...
Retail participation in the Bitcoin bull market is strengthening, as smaller transactions under $100,000 are spiking.
Larger entities are less involved, indicating that Bitcoin may not be ready to enter a bear market.
According to Ki Young Ju, CEO of analytics firm CryptoQuant, the realized cap metric points to a potential $135,000 price target in the current market cycle, with Bitcoin currently trading at $92,114.
Ki Young Ju observes a surge in sub-$100,000 transactions on the Bitcoin blockchain, suggesting increased involvement of smaller retail entities in BTC.
Notably, data shared by Ju indicates decreased participation of larger entities compared to the late 2021 bull market peak, implying that Bitcoin may not be poised to enter a bear market.
Ju uses the realized cap metric to identify $135,000 as a potential price target in the current market cycle and asserts that Bitcoin is currently in a bull market.
At the time of writing, BTC is trading at $92,114.
Source: Ki Young Ju, CEO of CryptoQuant