$BTC Although Bitcoin is near its historical peak, the total trading volume of crypto remains RELATIVELY LOW.

This indicates that RETAIL INVESTORS may not be actively PARTICIPATING, especially in South Korea.

The recent price increase is primarily driven by INSTITUTIONAL INVESTORS and BUSINESS buyers.

History shows that RETAIL investors usually participate in the LATER STAGE of the cycle, which can create the FINAL PUSH before reaching a local peak (like in 2022).

In summary, the market shows signs of distribution from short-term holders, while buying pressure mainly comes from institutions. The participation of retail investors could be a factor to watch for upcoming movements.

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