The crypto market, including bitcoin (BTC), has experienced significant growth following Donald Trump’s victory in the United States presidential election on November 5.
BTC is showing renewed strength, with its price edging closer to a predicted $100,000 milestone. Recent market trends suggest that retail investors are playing a significant role in driving this bullish momentum, which signals a potential shift in the crypto sector.
In a recent X post, CryptoQuant CEO Ki Young Ju noted that transaction volumes under $100,000 have surged to a three-year high.
Bitcoin Retail Investors
This pattern is reflected in the dominance of smaller transaction sizes, indicating a surge in activity from retail investors rather than large institutional entities. The increase coincides with the crypto asset’s latest price surge.
The CryptoQuant CEO also noted that Bitcoin transactions have exceeded $1 million, seeing an uptick. The executive believes that large investors might be holding off a greater influx of retail participants, particularly as bitcoin approaches $100,000.
He further added that while some price pullbacks are possible, he doubts they will trigger a bear market. Instead, he views this as the beginning of bigger market activity fueled by increasing engagement from both retail and institutional investors.
Bitcoin Has a Long Way To Go
Bitcoin climbed to an all-time high above $90,000 in the past week. The milestone has stirred confidence in the crypto market and profited several investors. Following a short period of profit-taking, the digital asset is edging closer to this significant level. As such, ARK Invest CEO Cathie Wood noted that Bitcoin still has “a long way to go.”
During a recent interview, Cathie Wood shared that ARK Invest made its initial Bitcoin investment at $250 in 2015. Even with prices at $90,000, she maintains a positive outlook, citing improved regulatory oversight under the present U.S. administration as a key driver of BTC growth.
The CEO further emphasized that Bitcoin is solidifying its position as a unique asset category. Its distinct performance compared to conventional investments increasingly draws institutions’ attention, driving wider acceptance. She predicted bitcoin’s value could climb to $650,000 by 2030.
Similarly, Quinn Thompson, the founder of crypto hedge fund Lekker Capital, also noted that Bitcoin is just getting started and further predicted that the digital asset is on track to reach the much-anticipated $100,000 mark. While he is optimistic this milestone will be achieved by the end of the year, he is also confident that it could happen by the end of this month.
Thompson stated that the market recognizes a major shift as U.S. authorities move from opposing to embracing crypto.
