In a recent analysis, a prominent crypto analyst suggests that retail investors in the crypto space may be making a comeback, indicated by a rise in new Bitcoin (BTC) addresses despite volatile market conditions.

During a strategic session, trader Ali Martinez shared a chart with his extensive social media following on X, illustrating that the number of new BTC addresses on the blockchain has broken a downtrend line.

“Retail investors in Bitcoin are resurging! The count of new BTC addresses has surged to 352,124, marking its highest level since April.”


Source: Ali Martinez/X

Martinez also observed that miners of the top crypto asset by market cap are relinquishing their positions, often a sign preceding a Bitcoin bull market.


Source: Ali Martinez/X

The trader concluded his assessment by highlighting increased activity on the Bybit exchange, where significant buying of Bitcoin during its recent price drop is evident from a specific indicator.

“Someone at Bybit is capitalizing on the Bitcoin dip, as indicated by a notable spike in BTC taker buy/sell ratio!”


Source: Ali Martinez/X

Martinez’s data reveals that the Taker buy/sell ratio for BTC stands at 12.306, suggesting bullish sentiment as buyers take long positions at market price in the derivatives market.

As of the latest update, Bitcoin is trading at $63,331, reflecting a more than 4% increase over the past 24 hours.

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