Will Its Arrival Push Bitcoin (BTC) To $100,000?

Bitcoin rallied after Donald Trump won the US presidential election in early November, rallying over thirty thousand in a few weeks and peaking above $99,800.

Most reports on the matter indicate that the impressive run was mainly driven by US-based institutions, and this could be demonstrated by the mind-boggling inflows of local Bitcoin ETFs.

When in retail?

Such massive price increases in a relatively short time usually attract the retail crowd, but that doesn’t seem to be the case during the current rally. The mass euphoria is not peaking now as it was during the 2017 bull run that saw BTC soar to $20,000 and the 2021 explosion when it topped $70,000 for its then all-time high.

The CryptoQuant data outlined another piece of evidence that some retail investors have yet to get around to. More specifically, the report focused on the Korea Premium Index, which is a “key indicator reflecting retail participation.” It shows the difference between the price of BTC on South Korean exchanges and global trading platforms.

In recent weeks, the index has been predominantly in red territory around -0.5. CryptoQuant analysis said this “suggests that retail participation has not actively contributed to the current price rally.”

“Historically, the Korea Premium Index has often risen to extreme levels before the price of Bitcoin reaches its maximum (TOP). Based on this chart, tracking the movement of the Korea Premium Index remains a valuable tool to identify potential Bitcoin price highs.”

Korean Premium Bitcoin Index. Source: CryptoQuant What does Google say?

Google Trends data is another source that describes the general sentiment of retail investors, as they tend to be the ones searching for the leading cryptocurrency. It shows there has been a particular uptick following Trump’s victory that pushed overall “bitcoin” queries on the platform to a two-and-a-half-year high.

However, the levels are still significantly lower than the bull runs of 2021 and the rally of 2017. This shows that there is still a lot of room to grow in terms of retail participation. In fact, many analysts are speculating with X that the possible arrival of retail could eventually push BTC to the coveted and unmatched $100,000 target.

Bitcoin Google Searches. Source: Google Trends SPECIAL OFFER (Sponsored) Binance Free $600 (exclusive of CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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