Bitcoin retail interest ‘almost nowhere to be found’ as BTC taps highs

Bitcoin has reached consecutive grounds highs this week, yet retail investors look reluctant to leap backmost into the market, according to a crypto researcher.

However, request for spot Bitcoin (BTC) exchange-traded funds (ETFs) is surging, with Thursday and Friday recording regular inflows of implicit $1 billion, the archetypal clip this has happened connected 2 consecutive days.

Bitcoin limb up “driven by institutions”

Bitwise caput of probe André Dragosch said successful an X station connected Friday, “Bitcoin is astatine caller all-time highs but retail is astir obscurity to beryllium found,” pointing to the deficiency of Google hunt involvement successful “Bitcoin” contempt the plus mounting consecutive all-time highs this week.

“Latest limb up is mostly driven by institutions,” Dragosch said.

Google planetary hunt involvement for the word “Bitcoin” accrued by 8% from June 29–July 5 to July 6–12, coinciding with Bitcoin breaking its erstwhile all-time precocious of $111,970 connected Wednesday, and climbing further to $118,780 by Friday, according to Google Trends and CoinMarketCap data.

Google planetary hunt involvement for “Bitcoin” is down 60% since November. Source: Google Trends

However, Bitcoin hunt involvement is 60% little than the week of Nov. 10–16, 2024, the week aft Donald Trump won the US statesmanlike election. 

That play was followed by a month-long rally that propelled Bitcoin to scope $100,000 for the archetypal clip ever connected Dec. 5.

Bitcoiners accidental retail thinks they “missed the boat”

Some Bitcoin proponents are speculating that retail investors whitethorn comprehend the existent terms of Bitcoin arsenic excessively precocious to participate the market.

Bitcoin commentator Lindsay Stamp said, “I deliberation a batch of retail folks find retired the terms of one Bitcoin is 117k and think, nahhh I missed the vessel and don’t adjacent springiness it a 2nd thought.”

Echoing a akin sentiment, the Bitcoin Matrix podcast big Cedric Youngelman said successful an X station connected Saturday, “At what Bitcoin terms bash you deliberation retail wakes up?” I’ll spell first. I don’t deliberation they’re coming for a agelong time.” 

Source: Will Clemente

Bitcoin onchain expert Willy Woo said Bitcoin’s uptrend is acold from over. “This tally has plentifulness of legs near successful it,” Woo said successful an X station connected Saturday.

Related: Bitcoin terms expected to accelerate if regular adjacent supra $113K is secured

Meanwhile, spot Bitcoin ETFs had a beardown trading week, with $2.72 cardinal inflows implicit the 5 days, according to Farside data.

Cointelegraph precocious reported connected July 5 that if the end holder of a BTC ETF stock is simply a retail client, it whitethorn beryllium clip to reconsider however onchain information is interpreted, arsenic this could correspond the world of retail Bitcoin demand.

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