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Bitcoiners hunker down for ‘storms ahead’ as retail stays away

Policy
By Bitcoin News


Cryptocurrency investors found something to cheer about amid the recent downturn in digital tokens: the asset class held up better than just about everything else in the third quarter. Yet the hunt for a bottom continues as long-term holders cling on with expectations that there’s more pain to come — and retail investors stay on the sidelines.

Even with the narrative going around that crypto hung tough in the July-September stretch, the mood has remained sour. While around 83,500 new digital wallets are coming online daily, that’s a low for the 2020-2022 cycle, according to data compiled by strategists at Glassnode.

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