CryptoQuant CEO says Bitcoin retail investors haven’t entered FOMO mode yet

Ki Young Ju, founder and CEO of CryptoQuant, said that the fear of missing out among retail Bitcoin investors has not yet reached a certain level.

Young Ju shared this view, as Bitcoin Bitcoin BTC -0.49%

Bitcoin fell below $92,000, extending last week’s drop of nearly $100,000. The CEO of CryptoQuant stressed that recent retail trading behavior shows no signs of panic or excessive excitement.

As of November 25, the indicator remained neutral, a position it has held since April, when BTC was trading around $64,000. During the last bull run, retail FOMO peaked in January 2021, when Bitcoin surpassed $30,000, pushing its price to an all-time high of $69,000 during that cycle.

Even though Bitcoin approached $100,000 last week, analysts found that retail investors have yet to enter the market in large numbers.

QCP Capital analysts said in a note early Tuesday, November 26, that given the macro environment, the breakdown from recent highs is likely to continue.

However, the drop is not “panic-worthy” and BTC remains bullish. This is despite millions of dollars being liquidated in the past 24 hours and spot Bitcoin ETFs seeing $438 million in outflows on November 25. MicroStrategy also bought $5.4 billion worth of BTC.

The Bitcoin Fear and Greed Index also supports bullish sentiment, with a reading of 77 indicating extreme greed as prices hover below $92,000.

Meanwhile, cryptocurrency analyst Ali Martinez noted that Bitcoin could rally to $95,000 or higher, citing a buy signal from the TD Sequential indicator.