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Bitcoin

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<p>Bitcoin, once soaring in March, now refuses to regain its upward momentum. Several factors influence this stagnation, notably the decrease in interest from American investors. The recent surge of bitcoin to $64,000 raises doubts about its sustainability, especially in the absence of significant support from the American market, particularly from the Coinbase platform, although Asian capital flows are fueling this rise.</p> 
<h2 id="h-the-challenges-of-the-american-stock-exchange">The Challenges of the American Stock Exchange</h2> 
<p>As the <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> continues its rapid climb, the <strong>lack of enthusiasm from the American Stock Exchange</strong>, and especially from Coinbase, is intriguing. Indeed, the “Coinbase Premium” index, which measures the price difference between Coinbase and other platforms, has fallen into negative territory. A clear sign that <strong>American buyers are no longer quite in the dance</strong>, casting doubt on the strength of this rise.&nbsp;&nbsp;</p>
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  <a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
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<ul> 
 <li><a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noreferrer noopener">Bitcoin Price</a> at $64,000, without American support;&nbsp;&nbsp;</li> 
 <li>Open Interest down by 0.83% to $33.25 billion;&nbsp;</li> 
 <li>Open Interest volume plummeting by 31.04% to $45.49 billion.</li> 
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<p>Without the active participation of US investors, some analysts, such as <a href="https://cryptoquant.com/insights/quicktake/67062fa0c1ff132140bca24d-We-are-going-up-But-Coinbase-Aint-Buying" target="_blank" rel="noreferrer noopener">BQYoutube</a>, believe that <strong>this rally might be a false dawn</strong>. The American market, usually <strong>a pillar in the rise of crypto-assets</strong>, seems to have deserted the area, making the situation more fragile.</p> 
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  Bitcoin price and volume – Source: CryptoQuant
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<h2 id="h-bitcoin-and-retail-a-glimmer-of-hope">Bitcoin and Retail: A Glimmer of Hope</h2> 
<p>But not everything is bleak for bitcoin. <strong>Active addresses</strong>, often an indicator of interest from retail investors, show <strong>a slight recovery</strong>. After hitting a low of <strong>600,000 at the end of September</strong>, they have recently climbed back above 700,000.&nbsp;</p> 
<p>This could signal a <strong>revival of interest from small investors</strong>, despite the caution of major players in the market.&nbsp;&nbsp;</p> 
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   Number of active BTC addresses – Source: Glassnode
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<p>This pick-up in activity among retail investors could breathe new life into the market, even if large American investors remain absent. However, the <strong><a href="https://www.coinglass.com/currencies/BTC" target="_blank" rel="noreferrer noopener">decline in Open Interest</a> and trading volumes</strong> reminds us that the path is still riddled with obstacles for bitcoin, especially without a global support, including that of Wall Street.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://coinbase-consumer.sjv.io/c/2801338/552039/9251" target="_blank" rel="noreferrer noopener">Discover the Coinbase platform and buy your first cryptos</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
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<p>Fortunately, even with a cautious American market, optimism around Bitcoin persists, notably with the prediction from Standard Chartered: <a href="https://www.cointribune.com/en/bitcoin-at-100000-before-the-elections-standard-chartered-says-yes/" target="_blank" rel="noreferrer noopener">a bitcoin at $100,000 before the American elections</a> would be a pleasant surprise.</p>

Will The Absence Of Americans Slow Down The Bitcoin Bull Run?

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