Coinbase climbed the rank of 137 at the US Apple Apple’s store in a sign that often expressed intent in retail in crypto.
However, the crypto industry is still divided if retail investors are truly back.
Sensor Tower data Shut up That Coinbase jumped 65% on the US Apple Apple’s store ranks last month, rising from 386 to 137 as Bitcoin (Btc) climb 10% at the same period.
Previous Bull Market Peaks, Coinbase is on the top 175
Bitcoin recently reached a new all-time high of $ 122,884. This is trade at $ 118,294 at the time of publication, According to Two Nansen data.
Cointelegraph reported in September 2024 that Coinbase app downloads are usually associated with price performance; Previous peaks of Toro markets have seen Coinbase Enter the top 175 of the apps, while an area below 500 usually matches bear markets.
Some participants in the crypto market have thought that the retail interest returned to the crypto market, but others were unsure.
Crypto analyst Tony Edwards Says In an X post on Wednesday, “Retail is definitely starting to return,” based on the recent spike in its YouTube views and subscribers.
Crypto Market Resource Lab4Crypto Says“The crowd is slowly coming back.”
“If this is the beginning … you don’t want to be late,” Lab4Crypto added.
However, the head of the research of Bitwise, André Draamotch did not agree. On Friday, Dramotch said “the retail could hardly be found” despite the new all-time highs of Bitcoin, pointing out the lack of interest in Google search for “Bitcoin.”
On Wednesday, crypto businessman Elisa Taught Google trends for “crypto” show that “retail interest is currently none of the 2021 highs.”
Previous retail indicators are not reliable
Bitfinex Analyst said Tuesday that new buyers Entry into the bitcoin market is seen as price-bag-magnostic and scooping of cryptocurrency than miners can be provided.
They noted that holders with a balance between 1 and 100 Bitcoin accumulated approximately 19,300 BTC per month, which significantly exceeds the current monthly release rate of nearly 13,400 BTCs since April 2024.
Related: Bitcoin can rally at $ 135k before the ‘Corrective Phase’ – Analyst
This data may not paint the whole picture, however.
Some industry participants say that, with the introduction of spot bitcoin and ether (Eth) Funds exchanged by the exchange (ETF), traditional indicators of intent in the retail of crypto have become less reliable, as investors now have other ways to be exposed to crypto.
Since their launch in January 2024, the Bitcoin ETF spots attracted $ 53.05 billion in streams, while the ETF ETF spots, which filed in July 2024, saw approximately $ 6 billion, According to to the data away.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
