Cryptoverse: Bleeding bitcoin’s holding out for a hero

Who can save bitcoin?

The world’s biggest cryptocurrency can’t seem to catch a break. It finally looked to be regaining strength this month, breaching $25,000 for the first time since its June collapse, only to relapse towards $20,000.

A deflating end to August has forced the market to confront the Big Bitcoin Question: where will a real rally come from?

Right now, doughty retail investors are looking like the most likely source of relief, as institutional players get cold feet in the midst of a macro maelstrom.

The amount of “illiquid bitcoin” across the market – held by wallets that rarely spend or sell – has risen by 73,840 bitcoin over the past week,