{"id":538386,"date":"2023-06-18T13:50:46","date_gmt":"2023-06-18T13:50:46","guid":{"rendered":"https:\/\/ktsl888.com\/?p=538386"},"modified":"2024-06-11T08:11:15","modified_gmt":"2024-06-11T08:11:15","slug":"bitcoin-retailers-buying-the-dip-as-btc-soars-above-26000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-retailers-buying-the-dip-as-btc-soars-above-26000\/","title":{"rendered":"Bitcoin Retailers Buying The Dip As BTC Soars Above $26,000"},"content":{"rendered":"

On-chain data shows that Bitcoin retail buyers have been loading up the recent dip, a move that also coincided with price gains above $26,000, relieving traders and holders. Early this week, BTC prices crashed to as low as $24,820 before recovering to spot rates, adding 8% in four days.<\/p>\n

Retail Investors Are Buying The Dip<\/h2>\n

Following a turbulent week in the crypto space, which involved the United States Securities and Exchange Commission, Binance and \u201ccrypto\u201d securities-related drama, the price of Bitcoin dipped below $25,000 after the Federal Reserve paused their rate hikes and keeping the US fund rate within the 5% and 5.25% zone, increasing the uncertainty within the market.<\/p>\n

Related Reading: Polygon (MATIC) Witnesses High Volatility Amid Positive Developments<\/a><\/div>\n

However, the crypto market has since rebounded<\/a>, with retail bitcoin investors, characterized by those holding 0.01 to 1 BTC, stepping in to buy up the dip.<\/p>\n

Interestingly, the dip-buying behavior exhibited by retail investors is similar in level to that observed during the Silicon Valley Bank (SVB) collapse earlier in the year, but less than that of the post FTX collapse crash which saw Bitcoin\u2019s price tank below $16,000.<\/p>\n

With retailers loading up, it could indicate that traders and holders are confident of what lies ahead despite recent unfavorable fundamentals.<\/p>\n

Bitcoin Whales On The Move<\/h2>\n

Meanwhile, with active Bitcoin retail buyers ramping up, “whales” have also been on the move. Crypto whales are addresses holding large amount of coins.<\/p>\n

A Twitter user also noted that a user with 50 BTC worth around $1.2 million recently moved<\/a> his coins after being dormant since 2010.<\/p>\n

The batch of coins was originally mined in June 2010 and had remained untouched since then before being moved.<\/p>\n

Following the trend, another previously dormant Bitcoin wallet, that has been dormant for a decade, transferred $7.8 million worth of BTC to a new wallet. Another long-term holder moved $11 million worth of BTC after more than 11 years of inactivity.<\/p>\n

Related Reading: Bitcoin Recovers Above Critical Level, Why Bulls Could Be Ready To Charge<\/a><\/div>\n

At the pivotal moment of BTC\u2019s price and the crypto space, speculators are raising questions about the motives behind such massive movements of BTC. It is known that the trading activities resulting from the transfers can impact the coin\u2019s supply and demand dynamics of Bitcoin, potentially exerting short-term influence on prices.<\/p>\n

As of writing on June 18, Bitcoin is firm above $26,500, and has reversed losses of June 14. With retailers appearing to be buying the dip, prices may recover in the days ahead, even rallying to $30,000.<\/p>\n

\"Bitcoin<\/a>
Bitcoin price, June 18 | Source: BTCUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n

Even so, Bitcoin remains under pressure and traders should watch how fundamental events, including the SEC lawsuits against Binance and Coinbase, would shape price action.<\/p>\n

Featured Image from Canva, Chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data shows that Bitcoin retail buyers have been loading up the recent dip, a move that also coincided with price gains above $26,000, relieving traders and holders. Early this week, BTC prices crashed to as low as $24,820 before recovering to spot rates, adding 8% in four days. Retail Investors Are Buying The Dip Following a turbulent week in the crypto space, which involved the United States Securities and Exchange Commission, Binance and \u201ccrypto\u201d securities-related drama, the price of Bitcoin dipped below $25,000 after the Federal Reserve paused their rate hikes and keeping the US fund rate within the 5% and 5.25% zone, increasing the uncertainty within the market. Related Reading: Polygon (MATIC) Witnesses High Volatility Amid Positive Developments However, the crypto market has since rebounded, with retail bitcoin investors, characterized by those holding 0.01 to 1 BTC, stepping in to buy up the dip. Interestingly, the dip-buying behavior exhibited by retail investors is similar in level to that observed during the Silicon Valley Bank (SVB) collapse earlier in the year, but less than that of the post FTX collapse crash which saw Bitcoin\u2019s price tank below $16,000. With retailers loading up, it could indicate that traders and holders are confident of what lies ahead despite recent unfavorable fundamentals. Bitcoin Whales On The Move Meanwhile, with active Bitcoin retail buyers ramping up, “whales” have also been on the move. Crypto whales are addresses holding large amount of coins. A Twitter user also noted that a user with 50 BTC worth around $1.2 million recently moved his coins after being dormant since 2010. The batch of coins was originally mined in June 2010 and had remained untouched since then before being moved. Following the trend, another previously dormant Bitcoin wallet, that has been dormant for a decade, transferred $7.8 million worth of BTC to a new wallet. Another long-term holder moved $11 million worth of BTC after more than 11 years of inactivity. Related Reading: Bitcoin Recovers Above Critical Level, Why Bulls Could Be Ready To Charge At the pivotal moment of BTC\u2019s price and the crypto space, speculators are raising questions about the motives behind such massive movements of BTC. It is known that the trading activities resulting from the transfers can impact the coin\u2019s supply and demand dynamics of Bitcoin, potentially exerting short-term influence on prices. As of writing on June 18, Bitcoin is firm above $26,500, and has reversed losses of June 14. With retailers appearing to be buying the dip, prices may recover in the days ahead, even rallying to $30,000. Even so, Bitcoin remains under pressure and traders should watch how fundamental events, including the SEC lawsuits against Binance and Coinbase, would shape price action. Featured Image from Canva, Chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":534322,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,428,1393,7918,3799],"class_list":["post-538386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-bitcoin","tag-coinbase","tag-federal-reserve","tag-sec"],"acf":[],"yoast_head":"\nBitcoin Retailers Buying The Dip As BTC Soars Above $26,000<\/title>\n<meta name=\"description\" content=\"Bitcoin retailers appear to be loading up the dip despite recent SEC's legal action versus Coinbase and Binance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/ktsl888.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Retailers Buying The Dip As BTC Soars Above $26,000","url":"http:\/\/ktsl888.com\/news\/bitcoin-retailers-buying-the-dip-as-btc-soars-above-26000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-retailers-buying-the-dip-as-btc-soars-above-26000\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Wholecoiners.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Wholecoiners.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","bitcoin","coinbase","federal reserve","sec"],"dateCreated":"2023-06-18T13:50:46Z","datePublished":"2023-06-18T13:50:46Z","dateModified":"2024-06-11T08:11:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Retailers Buying The Dip As BTC Soars Above $26,000\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-retailers-buying-the-dip-as-btc-soars-above-26000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-retailers-buying-the-dip-as-btc-soars-above-26000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Bitcoin-Wholecoiners.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Bitcoin-Wholecoiners.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"bitcoin\",\"coinbase\",\"federal reserve\",\"sec\"],\"dateCreated\":\"2023-06-18T13:50:46Z\",\"datePublished\":\"2023-06-18T13:50:46Z\",\"dateModified\":\"2024-06-11T08:11:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/05\/Bitcoin-Wholecoiners.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/538386"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=538386"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/538386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/534322"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=538386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=538386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=538386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}