Bitcoin reached a series of record highs this week, but retail investors seem to be reluctant to jump back to the market, according to a crypto researcher.
However, the demand for the Bitcoin spot (Btc) The funds exchanged by the exchange (ETF) Recording a day -to -day flow of more than $ 1 billionThe first time this happened on two consecutive days.
Bitcoin leg up “driven by institutions”
Bitwise Head of Research André Dragosch Says In an X post on Friday, “Bitcoin was at new hours but the retail was almost nothing,” pointing to Google’s “Bitcoin” lack of interest in “Bitcoin” despite setting the owner of consecutive all the time high this week.
“The latest leg up is often driven by institutions, ”Dramotch said.
The interest of Google Global Search for the word “Bitcoin” has increased by 8% from June 29-July 5 to July 6–12, which at the same time destroying Bitcoin over the past $ 111,970 on Wednesday, and up to $ 118,780 by Friday, According to In Google Trends and CoinMarketCap data.
However, the interest in finding Bitcoin was 60% lower than the week of November 10-16, 2024, the week after Donald Trump won the US presidency election.
That period was followed by a month rally that pushed Bitcoin up to $ 100,000 In the first time on December 5.
Bitcoiners said the retail thinks they “missed the boat”
Some Bitcoin advocates think that retail investors can see the current Bitcoin price as too high to get into the market.
Bitcoin comment Lindsay Stamp Says“I think a lot of people know the price of a bitcoin is 117k and think, nahhh that I missed the boat and I didn’t give it a second thinking.”
Echoing a similar emotion, the host of the Bitcoin Matrix podcast Cedric Youngelman Says In an X post on Saturday, “At what price of Bitcoin do you think the retail woke up?” I’ll go first. I didn’t think they would come for a long time. “
Bitcoin Onchain’s analyst Willy Woo said Bitcoin’s upcoming is far from over. “This running has a lot of legs left here,” Woo Says On an x post on Saturday.
Related: Expected to speed up bitcoin prices if the sun -day close to the top of $ 113k is safe
Meanwhile, the Bitcoin ETFS spot had a strong trading week, with $ 2.72 billion flowing within five days, According to to the data away.
Cointelegraph recently reported on July 5 that if the end holder of a btc etf Sharing is a retail client, it may be time to re -consider how onchain data is interpreted, as it may represent the reality of Bitcoin’s retail demand.
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