As Bitcoin’s price continues to rise, market watchers are wondering if retail FOMO has set in yet. By looking at data from active addresses, historical cycles, and various market indicators, we can gain insight into where the Bitcoin market stands and what it might signal about the near future. While there has been a rise in new Bitcoin addresses and Google searches for “Bitcoin,” neither have reached the levels of previous bull cycles.
Additionally, there has been a shift of Bitcoin from long-term holders to newer, shorter-term holders. However, the overall number of coins transferred remains low, suggesting that long-term holders are still confident in Bitcoin’s potential. A spot-driven rally, rather than one fueled by leveraged positions, makes the market more stable and resilient.
Furthermore, large Bitcoin holders have been accumulating coins, which is a bullish indicator. While we have yet to see the widespread retail FOMO, the current market structure suggests potential for a larger retail-driven surge in the future.
