More Upside Forthcoming For Bitcoin
Bitcoin has soared to a record-breaking high of RM472,299 (US$111,881), marking a significant milestone for the world's most prominent cryptocurrency and fuelling renewed optimism in the digital asset space.
Malaysian crypto exchange Luno Asia Pacific General Manager Aaron Tang said, despite the historic price surge, retail investor interest remains relatively low compared to past bull runs as indicated by the Fear & Greed Index.
'Currently, the index is at 72, indicating 'greed', which suggests there may still be room for growth if retail participation picks up,' Tang said.
He shared that, unlike previous cycles, this rally is largely fuelled by strong institutional demand by big players like Strategy Inc (formerly MicroStrategy), BlackRock and Grayscale through direct Bitcoin holdings and exchange-traded funds.
'Hence, the market sentiment remains positive but not overheated,' Tang said. Related
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