Bitcoin retail investors have yet to reach a fear of missing out (FOMO) stage, according to Ki Young Ju, CEO of CryptoQuant. Despite Bitcoin recently falling below $92,000 after approaching $100,000 last week, retail trading activity has not shown signs of panic or excessive excitement, which often characterizes FOMO-driven markets.
“Bitcoin retail investors aren’t in FOMO yet,” Young Ju posted on X, emphasizing that this sentiment is reflected in the current trading indicator, which tracks the surge in trading volume across various exchanges. The indicator has remained neutral since April, when Bitcoin was priced around $64,000, suggesting that retail investors haven’t been overwhelmed by the market’s recent volatility.
Not Complete FOMO Yet
In comparison, during the last bull market in January 2021, retail FOMO peaked when Bitcoin surpassed $30,000 and reached an all-time high of $69,000. Despite Bitcoin’s recent approach to $100,000, analysts have noted that the retail investor crowd has not yet rushed into the market with the same level of enthusiasm.
QCP Capital analysts mentioned that Bitcoin’s recent price crash was likely to continue, given the current macroeconomic environment and upcoming U.S. economic reports like the FOMC minutes and PCE data. "With the U.S. holidays approaching and major economic data on the horizon, the market lacks the momentum to push BTC toward $100K," they observed. The analysts added that the pullback, though inevitable, is not panic-worthy.
Looking Ahead: Despite the market’s recent cooling, Bitcoin’s overall bullish sentiment remains strong. The Fear and Greed Index is at a high of 77, indicating "extreme greed," even with Bitcoin’s price still hovering below $93,000. Additionally, institutional support remains solid, with companies like MicroStrategy continuing to invest heavily in Bitcoin, buying $5.4 billion worth of BTC.
