A data finding by Glassnode showed that the bear market impacted badly the positive sentiments of US Bitcoin Investors.
Since Jan 2022, the Bitcoin trade price plunged badly from $45k to $16k. In early 2023, the Bitcoin market saw a better amount of funds inflow & hit $30k. Now the current trade price of Bitcoin is $26,449 & this trade price is 12% down over the last 12 months of trade price.
On 8 June 2023, A popular analytics platform Glassnode shared a data finding on Bitcoin dominance in the US and noted that the Bitcoin trade activities by the US-based investors/traders plunged by nearly 10-11% from mid of 2022 to the date.
The researchers noted that the whole situation reversed, as US investors showed a high inclination toward Bitcoin trade & investment activities from 2020 to 2021 but from 2022 to 2023 that wave is getting back down, because of regulatory uncertainty & high volatility.
Glassnode research also found that investors from the European Union (EU) countries have been neutral toward this biggest decentralised crypto asset, over the past year. And Interestingly the supply of Bitcoin dominance surged rapidly in the EU’s crypto market.
EU, MiCA, & investors hope
Just a couple of months ago, the EU parliament approved MiCA (Markets in Crypto Assets).
Mica is a bill & there is a dedicated team behind this bill, which is working on every aspect to bring a general crypto regulation framework across the EU member countries.
However, MiCA is not fully able to regulate every part of the EU’s crypto sector but still it is enough for the EU-based crypto Investors because MiCA is a clear reason for the investors to remain confident that Crypto will stay in their country.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.