Rashid Al-Khuzai, director of the digital asset fund at TDR, said he does not see a notable exit of liquidity from large wallets or well-known old wallets in the cryptocurrency market, explaining that current indicators do not reflect large-scale selling by long-term conviction investors.

He also clarified that the market is not witnessing major moves to exit trading platforms, indicators that usually provide a clearer picture of retail investors' trends and investment behavior.

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He added in an interview with Al Arabiya Business that accurately analyzing retail investors' decisions remains difficult, as the real motives behind buying or selling operations cannot be determined, noting that analysts often rely on reading wallet data and financial flows to infer market trends.

Regarding Bitcoin's performance during the period from the first quarter to the beginning of the second quarter of the year, he confirmed that markets were affected by a mix of shifts in global monetary policies, along with large institutional flows related to Bitcoin-linked exchange-traded funds.

He pointed out that the cryptocurrency showed remarkable resilience during that period, despite geopolitical tensions and pressures affecting various asset classes around the world, including high-risk assets.

He added that Bitcoin's maintenance of levels close to the halving price, at about $64,500, is a significant achievement given the market conditions and prevailing economic pressures.

He warned that previous Bitcoin cycles saw declines exceeding 70% after recording historical peaks, while the current cycle has not yet recorded similar drops, reflecting a change in market nature and investor behavior.

He explained that Bitcoin is currently moving within an important price zone from both technical and fundamental perspectives, stressing that the halving price represents one of the most prominent levels monitored by investors interested in the technical and financial aspects of the currency.

He added that Bitcoin's ability to remain stable at these levels, despite continued economic pressures, geopolitical fluctuations, and a decline in some institutional flows, represents a positive indicator of market strength and resilience.

He stressed that Bitcoin's flexibility and ability to withstand current challenges will be among the key factors determining the digital currency's future and direction in the coming period.

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