Goldman Sachs: Retail Investors Drive Rapid Rise in Cryptocurrency Prices

ChainCatcher news, according to a report by Reuters, Goldman Sachs' head of digital assets Mathew McDermott stated that the recent rapid rise in cryptocurrency prices has been driven by retail investors, but institutions are also starting to join in, indicating a shift in market demand, with changes not only in the types of clients but also in their numbers.

Although analysts point out that billions of dollars have flowed into the U.S. Bitcoin spot ETFs launched this year, no one knows for sure what has driven the latest surge in Bitcoin. McDermott stated that it is the ETFs that have triggered a "psychological shift."