Bitcoin’s value is now $64,380, just a bit under the key level of $64,500. Data from CryptoQuant suggests that individual investors’ actions could influence Bitcoin’s price.

Soon after Bitcoin’s value hit a record $73,738 on March 14, 2024, individual investors showed more interest. This means these investors will likely invest in Bitcoin when its price moves, which may help stabilize the market if prices drop.

In the recent weeks, interest from retail on-chain accounts has increased by 7%. Analysts see this as a good sign for Bitcoin’s future price.

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• Bitcoin is trading at $64,380, showing a slight dip and hinting at a possible bearish trend.
• A surge in retail investor interest in Bitcoin could contribute to market stability during volatile periods.
• PlayDoge, a crypto token, has already raised over $5 million in presale and could offer significant returns to investors.

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Rising Interest from Retail Investors Could Bolster Bitcoin Price

Macro analyst Axel Adler saw a 7% increase in retail interest in Bitcoin compared to the lowest point in May. While it’s too early to say if Bitcoin will fully recover, Adler sees this increased interest as a good sign.

Adler also believes that the actions of retail investors, shown in the CryptoQuant data, can greatly affect potential price changes. He also thinks that if crypto whales (people who own a lot of cryptocurrencies) put their profits back into the market, it could help the market recover and stabilize.

Experienced analyst Willy Woo highlights the impact of mining on Bitcoin’s price. He predicts that inefficient miners, often seen leaving the market after halving events, could be a key factor. Woo believes the end of this process, which has been going on for over 60 days, could signal the start of the next Bitcoin rally.

Currently, Bitcoin is valued at $64,380, showing a small drop of 0.01%. The key pivot point is at $64,500, suggesting a drop in Bitcoin’s price. If the price drops, immediate support is $64,000, with further support at $63,500 and $62,900.

The Relative Strength Index (RSI) is at 47.8, showing a neutral trend. The 50-day Exponential Moving Average (EMA) is $64,500, adding more resistance near the pivot point.

Alternative tokens, especially those in presales, could be a good option for traders looking for big and quick returns. PlayDoge (PLAY), a cryptocurrency based on Ethereum, is one such promising token.

PlayDoge has recently started its presale and has already raised $5,007,470 of its $5,493,903 goal. The token’s maximum supply is 9.4 billion, and the current presale price is $0.00511 per token.

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