Prøve GULL - Gratis
Retail traders sitting out Bitcoin rally
The Straits Times
|May 15, 2024
Latest revival more an institutional affair propelled by birth of Bitcoin ETFs in the US
-
What has happened to the army of retail traders who drove Bitcoin's biggest rallies? US crypto exchange Coinbase reported just US$56 billion (S$75.8 billion) in consumer trading volumes in the first quarter of 2024, when Bitcoin leapt to record heights close to US$74,000.
While that represents a fledgling recovery in retail interest - almost double the level in the final quarter of last year it is way below the US$133.75 billion quarterly average during the last comparable rally in 2021.
The retail investor was in the driving seat of that wild 2021 ride, as Covid-19 lockdowns, cheap money and personal savings drove up prices of "meme" stocks and spawned bouts of intense Fomo, or fear of missing out. By contrast, the latest rally was a more solemn, institutional affair propelled by the birth of US Bitcoin exchange-traded funds (ETFs).
Denne historien er fra May 15, 2024-utgaven av The Straits Times.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA The Straits Times
The Straits Times
TOAST TO TRADITION
Other Middle Eastern cooks, however, are sticking to their guns, even though marketing their food as Turkish or Lebanese might not immediately ring a bell with diners looking for an approximate rundown of the Middle East’s greatest hits.
2 mins
November 02, 2025
The Straits Times
RECOVER
Post-workout recovery is the new wellness, with at least 10 new spaces offering ice baths and saunas - and a place to socialise
7 mins
November 02, 2025
The Straits Times
WILL POGACAR BECOME CYCLING'S G.O.A.T?
After a season spent demolishing and demoralising his rivals, Tadej Pogacar has the cycling world pondering about his place in the peloton of greats.
5 mins
November 02, 2025
The Straits Times
Two young editors have worked to posthumously publish In The Mirror: New And Selected Poems Of Wong Phui Nam
Up until the hours before he died at 87 on Sept 26, 2022, in Kuala Lumpur, Malaysian poet Wong Phui Nam was fiddling restlessly with two manuscripts, making minute revisions to lines from six decades ago and compiling a collection of new poems he had titled In The Mirror.
3 mins
November 02, 2025
The Straits Times
Be fair on fixture crowding: Arteta
Arsenal have opposed Crystal Palace’s request to reschedule their League Cup quarterfinal to Dec 23, with manager Mikel Arteta saying it would be unfair for both teams to play twice in barely 48 hours.
2 mins
November 02, 2025
The Straits Times
MASTEROFMYUNIVERSE TO RULE
5 Masterofmyuniverse resumed with a solid effort for seventh behind Tomodachi Kokoroe, finishing off strongly.
1 min
November 02, 2025
The Straits Times
New satellite images suggest mass killings continue in Sudan's El-Fasher
New satellite imagery suggests that mass killings are likely continuing in and around the Sudanese city of El-Fasher, Yale researchers said, days after it fell to the paramilitary Rapid Support Forces (RSF).
1 mins
November 02, 2025
The Straits Times
Can America learn to make again?
Dream of an all-American bicycle takes shape while a toymaker struggles to survive amid Trump's big manufacturing push.
2 mins
November 02, 2025
The Straits Times
How to be a confident home cook, the Ottolenghi way
Anxious cooks, take a breath. Israeli-British chef Yotam Ottolenghi thinks that mastering a handful of recipes and riffing off them is the way to go.
4 mins
November 02, 2025
The Straits Times
KEEPING CALM THE 'BIGGEST LESSON'
Sabalenka aims to keep her emotions in check in bid for first WTA Finals crown
2 mins
November 02, 2025
Listen
Translate
Change font size