Bitcoin [BTC] retail investors embrace crypto winter while whales shy away

• Bitcoin retail investors have constantly shown interest in BTC
• However, speed, volume and daily activity continued to decline

Bitcoin owners, who have been on the receiving end of selling pressure, may have some reasons for optimism in the future. According to a recent Update by cryptanalysis firm Glass noderetail investors have shown an increasing interest in BTC.

Read Bitcoin price prediction 2022-2023

Bitcoin shrimp is taking over

Reportedly, the net position of shrimp has grown. Since the collapse of FTX, Reker has added 96k BTC to his holdings as of this writing. This was a record high, as these investors held around 1.21 million BTC, which was around 6.3% of the total Bitcoin supply.

Other retail investors who held up to 10 BTC also voiced theirs interest in the royal mint.

#Bitcoin Crabs (up to 10 $BTC) has also seen an aggressive balance increase of 191.6k $BTC during the last 30 days.

This is a convincing all-time high, surpassing the July 2022 peak of 126k $BTC/month. pic.twitter.com/osjHovLRoV

— glassnode (@glassnode) 28 November 2022

But while retail investors showed faith in the coin, the whales did not share the same enthusiasm. In accordance Glass node, whales were observed to leave their positions. This may be due to that fact that there was still a lot of fear around investments, according to Bitcoin’s Fear and Greed Index.

Looking at the data

The feeling of fear can be observed in Bitcoins chain calculations as well. The daily active addresses on the Bitcoin network have decreased drastically in recent days. Along with that, there was also a decrease in Bitcoin’s speed, which can be observed in the chart below.

A decrease in speed indicated that the frequency at which BTC was transferred between addresses had decreased. To add to that, Bitcoins the volume dropped by 50%, as it fell from 50 billion to 25 billion.

Source: Sentiment

Thus, Bitcoin’s hold on the crypto market has declined due to the aforementioned factors. Market dominance also took a hit with 2.67% in the last month, according to data provided by Messari. It remains to be seen whether interest from retail investors can help prop up BTC’s prices.

Source: Messari

That said, at the time of writing, Bitcoin was traded at $16,209.19. The price had fallen by 2.03% in the last 24 hours, according to CoinMarketCapand the coin took 38.48% of the total crypto market.