BTC Falls to $104K While Retail Demand Slips Below $408 Million
Bitcoin dropped from an all-time high of $111,000 on May 22, losing 7 percent and trading near $104,000 by early June. According to CryptoQuant data, this fall coincided with a sharp decline in retail investor interest. Retail transfer volume between $0 and $10,000 fell from $423 million to $408 million in under two weeks.
The drop is visualized in a chart released June 4, which tracks Bitcoin’s price alongside retail demand and transaction volume. Retail demand 30-day change also shifted from a positive 5 percent to negative 0.1 percent. These metrics signal weakening short-term participation from smaller investors.
The data illustrates the emotional reaction of retail investors to sudden price shifts, especially after major highs.
Retail Activity Contracts as Volatility Rises
Retail transaction activity has dropped significantly as prices moved away from the peak. The orange line on the chart reflects total transfer volume from wallets moving $0 to $10K worth of BTC. This group saw reduced participation shortly after the May 22 price peak.
This decline in retail activity is important because such investors often drive short-term price movements. Their reduced involvement means fewer rapid buy-ins and less volume-driven price momentum. The data suggests that many retail participants are taking a cautious approach after recent volatility.
In tandem, the red and green lines on the chart show the 30-day percentage change in demand. This metric flipped from strong positive levels to slight contraction. The reduction occurred in the same window that prices fell from $111,000 to below $105,000.
Such shifts point to how quickly smaller investors pull back when markets cool, creating short-term softness in momentum and sentiment.
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