Bitcoin Bulls who still believe that Cycle Peak has not yet come because retailers have not yet accumulated might use an old book, according to CEO of encryption.
“The idea that the course has not yet ended because the retail activity in Onchain is absent from the reconsideration.” He said In the publication of March 19.
Joe said that those who follow retail movements using Onchain standards only will not see the full picture.
Joe said: “It is possible that you will enter retail through the circulating investment funds – the paper bitcoin layer – which does not appear,”
He added: “This keeps the maximum reduction in the maximum of the money if the money is flowing directly to the deposit portfolios on the stock exchange,” noting that 80 % of the Fund's instant flows on the Stock Exchange (ETF) (ETF) comes from retailers-a trend that Binance analysts have already noticed in October last year.
Since the launch of Spot Bitcoin Etfs in January 2024, the total flow of flows reached about 35.88 billion dollars. source: Patriarchal
At that time, analysts said that most ETF purchase is likely to be a retailer who transfer their holdings from portfolios and exchanges to funds with more organizational protection.
Joe was responding to the counter -arguments to its previous prediction on X that the “Bitcoin Bull course had ended” on March 17.
He said: “I have been calling for an emerging market over the past two years, even when the indicators have been a border line. Sorry to change my view, but it seems clear now that we are entering the bear market.”
Joe explained that some indicators show that there is no new liquidity, which is likely to be driven by Macro.
He also explained when he said that the bull cycle had ended, and it meant that Bitcoin might take “6-12 months” to break its highest level ever, and not about to disrupt.
Related to: Bitcoin see just a “natural correction”, Cycle Peak has not yet: analysts
Traders often see the retail investor activity to discover signs of fatigue or as a sign of the start of the sale when the market appears feverish.
There are many feelings of feelings that help market participants to understand the level of retail interest in the market. One of these is the Crypto Fear & Greed Index, which Sizes The morale of the total encryption market, and reading the degree of “fear” of 31, a decrease of 18 points from the “neutral” degree of 49 yesterday.
Other common signals used to track the level of retail selling in the encryption market include Google Search Trends for “Crypto”, the main relevant words and popularity of encryption applications in major application stores around the world.
While searching Google a result For “Crypto” worldwide, it was 100 in the week 19-20 January, when Bitcoin reached its highest level ever of $ 109,000 and the pressure of US President Donald Trump, since then decreased by approximately 62 %.
The amount of search operations on Google from “Crypto” has decreased approximately 62 % since the end of January. source: Google Trends
At the time of publication, the Google search degree of “Crypto” is 38 years old, where Bitcoin is traded by 22 % less than the highest level in January.
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