Representations of cryptocurrency Bitcoin are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration
Aug 30 (Reuters) - Who can save bitcoin?
The world's biggest cryptocurrency can't seem to catch a break. It finally looked to be regaining strength this month, breaching $25,000 for the first time since its June collapse, only to relapse towards $20,000.
A deflating end to August has forced the market to confront the Big Bitcoin Question: where will a real rally come from?
Right now, doughty retail investors are looking like the most likely source of relief, as institutional players get cold feet in the midst of a macro maelstrom.
The amount of "illiquid bitcoin" across the market - held by wallets that rarely spend or sell - has risen by 73,840 bitcoin over the past week, the largest weekly increase for more than two months, according to Chainalysis data. That equates to roughly $1.7 billion at recent prices.
Furthermore, the amount of bitcoin held for over a...
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