Fed Cleveland Study Finds Bitcoin Gains Draw New Crypto Buyers

The study also found that exposure to bitcoin's gains lifted respondents' desired crypto allocation by about 2 percentage points, from an average of 4.3% in the control group. According to BitKE, much of that shift came at the expense of cash and bank deposits.

Expectations moved as well. Participants shown bitcoin's positive performance raised their expected crypto returns for the following year by 3.2 percentage points, while those shown the price chart increased their expectations by 1.2 points. The effect was strongest among respondents who said they had previously avoided crypto because they felt they lacked knowledge about it.

The researchers said the results point to a potential feedback loop in which positive returns attract new participants, which in turn pushes prices higher. The working paper is titled "Do You Even Crypto, Bro? Cryptocurrencies in Household Finance."

Cointelegraph Reportedly Seeks Buyer After Traffic Falls Sharply

Crypto news outlet Cointelegraph is said to be looking for a buyer following a steep drop in website traffic, though the firm has stated on X that it is not for sale.