Preliminary Indications of Retail Engagement in Bitcoin (BTC) Without Significant Surge Yet

Bitcoin's recent surge to new all-time highs lacks strong retail activity, according to data from CryptoQuant. While Bitcoin transfers in the $0-$10,000 range, which indicates retail demand, have seen a slight increase, the 30-day change in retail volume remains mostly flat.

This suggests that large investors and institutions are mainly driving the current rally. However, early signs of retail interest have been observed, which, if they grow, could mark the beginning of a broader rally. Meanwhile, institutional demand remains strong, with spot Bitcoin ETFs recording $385 million in net inflows on May 27. If retail interest doesn't pick up, CryptoQuant's Julio Moreno expects the next crypto "mania" to be driven by smaller firms and funds following Michael Saylor’s BTC accumulation model.