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crypto Queen Abrash

07/17 10:04

Previous bull market peaks, Coinbase was in the to

Previous bull market peaks, Coinbase was in the top 175

Bitcoin recently reached a new all-time high of $122,884. It is trading at $118,294 at the time of publication, according to Nansen data.01981660-ea6d-7ad0-9437-3a32ca4105ed.webp

Cointelegraph reported in September 2024 that Coinbase app downloads typically correlate with price performance; previous peaks of bull markets saw Coinbase enter the top 175 of apps, while a place below 500 typically corresponded to bear markets. Some crypto market participants speculate that retail interest is returning to the crypto market, but others are not so sure.

Crypto analyst Tony Edwards said in an X post on Wednesday, “Retail is definitely starting to come back in,” based on the recent spike in his YouTube views and subscribers.

Crypto market resource Lab4Crypto said, “The crowd is slowly returning.”

“If this is the beginning… You do not want to be late,” Lab4Crypto added.

However, Bitwise’s head of research, André Dragosch, disagrees. On Friday, Dragosch said that “retail is almost nowhere to be found” despite Bitcoin’s new all-time highs, pointing to the lack of Google search interest in “Bitcoin.”

On Wednesday, crypto trader Elisa also pointed out that Google Trends for “crypto” shows that “retail interest is currently nowhere near 2021 highs.”

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