Bitcoin, after its significant growth in March, now experiences a slowdown. The primary cause is decreased interest from American investors. Even with a recent rise to $64,000, lack of substantial support from the US, especially from the Coinbase platform, casts doubt on the sustainability of this growth.

Challenges for the American Exchange

Despite Bitcoin's price surge, the lack of enthusiasm from the American exchange, particularly Coinbase, is raising questions. The 'Coinbase Premium' index, measuring price differences between Coinbase and other platforms, has fallen negative. This indicates that American buyers have lost interest, casting doubt on the strength of Bitcoin's current rally.

Bitcoin and Retail Investors: A Glimmer of Hope

Not all is gloomy for Bitcoin. Active addresses, often an indicator of retail investor interest, have shown a slight recovery. After reaching a low of 600,000 at the end of September, they have climbed back above 700,000. This could signal renewed interest from smaller investors, despite the caution of larger market players.

Paths Forward

Increased activity among retail investors might breathe new life into the market, even if large American investors remain absent. However, declines in Open Interest and trading volumes remind us of the challenges Bitcoin faces. Without global backing, including that from Wall Street, Bitcoin's path remains fraught with difficulty.

Despite the current challenges linked to the lack of significant US support, optimism surrounding Bitcoin persists. Forecasts, such as the possible rise to $100,000 as per Standard Chartered, add positive expectations for the future.