Despite rising interest from both institutional and retail investors, the Bitcoin price has been unable to rise above the $70,000 psychological mark since July 29.
The Bitcoin price is struggling to gain momentum despite growing institutional and retail demand for the world’s first cryptocurrency.
Retail demand for Bitcoin (BTC) grew to an over six-month high, last seen during March 2024, when Bitcoin recorded a new all-time high of above $73,600.
Retail demand saw a significant uptick during the past 30 days, according to onchain intelligence firm CryptoQuant, which wrote in an Oct. 22 X post:
