Bitcoin fell from about $60,000 to nearly $50,000 this week, but it has not deviated retail interest, according to Robbie Liu of OKEx.
The investment analyst cited renewed buying activity near the $50,000 level among retail investors, confirmed by the rising long/short ratio and the rising USDT premium in the Asian market. The long/short ratio compares the total number of users opening long positions versus those opening short positions.
Bitcoin climbed by more than 7 percent after testing $50,000-area as its support.