Bitcoin Rallies Above $40k but Lagging Retail Interest Tempers Crypto Comeback Hopes
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Bitcoin has rallied back above $40k in 2023, attracting Wall Street support and declarations that "crypto is back"
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However, retail investor interest is lagging, with crypto app downloads far below 2017 and 2021 levels
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Possible explanations include lagging indicator, disillusionment after FTX, or prior crypto owners not needing new wallets
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If retail investors don't return at scale, the boom may be less dramatic despite institutional interest
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Warren's crypto AML bill gained 5 new Democratic co-sponsors amid ongoing industry objections