Bitcoin (BTC) retail on-chain accounts are showing increased interest in buying, with the metric surging by 7% in recent weeks, according to macro analyst Axel Adler. Despite the recent price decline, this retail demand is seen as a positive signal. The interest from accounts holding up to $10,000 in BTC has been rising since the local bottom in May.
Yesterday, Bitcoin’s price dropped below $65,000, reaching mid-May levels, and is currently trading at $64,262. Analyst Willy Woo anticipates a recovery, suggesting that the capitulation of inefficient miners, which has lasted over 60 days, will end soon, paving the way for the next BTC rally.
