The speculative appetite in the crypto markets is diminishing as investors shift their focus to safer digital asset investments amid rising global trade tensions and market volatility. Analysts report a significant decline in Bitcoin's hot supply metric, which fell from 5.9% in November to just 2.3% by March. This indicates a preference for more secure investments, as investors become increasingly cautious following recent memecoin scams and economic uncertainties. The stablecoin supply ratio, indicative of Bitcoin's relative market strength, also hit a four-month low, suggesting hesitance among investors to make substantial new positions. Analysts, such as Ryan Lee of Bitget Research, note that this trend reflects a more pragmatic investment approach rather than mere fear. Despite the current decline in speculative interest, market experts remain optimistic about Bitcoin's price trajectory for 2025, suggesting potential upward movement as the market continues to mature.

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