Bitcoin Maintains Pole Position among Retail Traders in Q2 despite Market Fluctuations

<p>Bitcoin (<a href="https://www.financemagnates.com/tag/btc/" target="_blank" rel="follow">BTC</a>)
upheld its rank as the most-held crypto asset by retail traders in the second
quarter of 2023. This surge was contrary to the broader market's trends, with
<a href="https://www.financemagnates.com/terms/b/bitcoin/">Bitcoin</a>'s revival in price movement noted in the trading and investing
platform's quarterly data.</p><p>Bitcoin Holds the Crown,
eToro Study Shows</p><p>According
to <a href="https://www.financemagnates.com/tag/etoro/" target="_blank" rel="follow">eToro’s newest report</a>, the oldest cryptocurrency remained in the top
position among the most popular digital assets among the platform’s clientele. The
TOP10 most held positions remained constant from Q1 to Q2 2023, but the update
highlighted Bitcoin's market broader rebound. </p><p>This shift
allowed the crypto asset to cement its dominance while other assets remained
relatively stable throughout Q2. Flare and TRON also performed better than
other tokens in the list</p><p>“Crypto asset
market performance has been through some significant shifts in the past three
months but Bitcoin has once again shown itself to be the most consistent of the
big assets, consolidating its position as the world’s largest crypto asset,” Simon
Peters, the Crypto Market Analyst at eToro, commented.</p><p>“Market
performance for Bitcoin has been largely positive while other major crypto
assets have tread water.”</p><p>Market Shifts and Rising
Tokens</p><p>Significant
changes were observed in smaller cryptos. Arbitrum witnessed a staggering growth
of 180%, followed by Cartesi, with an increase of 46%, and Amp, with a surge of
12%. Orchid, Band Protocol, and Fetch.ai also experienced visible growth.</p><p>Within the TOP20
most-held crypto assets, Terra 2.0 and Polygon had the most significant growth
in positions, with increases of 3% and of 2%, respectively.</p><p>The data
provided by eToro does not include positions held as CFDs or in Smart
Portfolios and was accurate as of 1 July 2023.</p><p>According to the previous survey <a href="https://www.financemagnates.com/forex/retail-investors-are-bracing-for-a-coming-economic-slowdown-etoro/" target="_blank" rel="follow">conducted by eToro</a>, the number one concern among retail investors is the slowdown of their domestic economies. This concern tops the fear of inflation and the impact of geopolitical conflicts.</p><p>Bitcoin Tests Local Highs</p><p>Matteo
Greco, Research Analyst at Fineqia International (CSE: FNQ), a publicly traded
<a href="https://www.financemagnates.com/terms/f/fintech/">fintech</a> and digital asset investment firm, has recently commented on Bitcoin.
The oldest cryptocurrency closed yesterday (Monday) at the highest level since
June 2022.</p><p>"BTC
closed last week at $30,600, marking a 0.5% increase from roughly $30,500 at
the close of the preceding week," Greco detailed. Friday saw a decrease in
BTC value down to $29,500 <a href="https://www.financemagnates.com/cryptocurrency/crypto-etfs-attract-record-cash-amid-regulatory-crisis-in-the-us/" target="_blank" rel="follow">in the wake of the SEC's critique of ETF filings
from several businesses</a>. "The regulator stated that the fund sponsors
failed to specify the market they are liaising with in their
surveillance-sharing agreements,” Greco explained.</p><p>However,
the price dip was promptly remedied as all involved asset managers swiftly
resubmitted their applications, addressing the gap highlighted by the SEC. </p><p>Regarding
the upcoming Bitcoin halving, currently planned for April 2024, Greco clarified
that the event occurs every 210,000 blocks (roughly four years) and will
reduce miner rewards for new blocks by 50%. </p><p>"The
current reward stands at 6.25 BTC per block. Post-halving, it will be 3.125 BTC,”
Greco explained.</p><p>According
to Research Analyst at Fineqia International, market participants are closely
monitoring the latter half of 2023, as the months preceding previous halvings have
typically marked the beginning of a bullish market trend.</p>

This article was written by Damian Chmiel at www.financemagnates.com.