Bitcoin Close to $105,000: Retail Traders Absent in Momentum

Bitcoin surged towards the $105,000 mark on Sunday, reaching a peak of $104,958 on Bitstamp. This move marks the twelfth consecutive day with daily closes above $100,000, showcasing Bitcoin’s current strong upward trend. However, retail traders have been conspicuously absent in this rally. Trading volumes remain subdued, and there is no noticeable enthusiasm around media coverage by everyday investors. This contrasts sharply with the role of retail traders during previous price surges. 🧐 📈 💰 Low funding rates suggest a cautious approach to borrowing on margin by traders. Consequently, experts predict rapid and significant price shifts if participation from retail traders picks up, as noted by Tom Lee writing for Fundstrat. It’s surprising that trading volume remains so low given the recent surge in Bitcoin’s value – one of the fastest gains in years. 📈 🤯