Bitcoin recently reached an all-time high of $109,588 but has since dropped by 8% due to reduced retail trading activity. Retail traders have been accumulating less Bitcoin over the past month, as indicated by a decline in on-chain activity for transactions up to $10,000 by 19.34%. This decline in retail activity is significant considering Bitcoin's current high volatility. Retail investors are also holding onto their positions for shorter periods, which shows decreased confidence and increased caution. The lack of participation from smaller traders may hinder BTC's upward momentum, potentially causing the price to drop to $94,523. However, if retail traders start accumulating Bitcoin again, the price could attempt to revisit its ATH and go even higher.



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