Analyst: Retail investors are not the main force behind this round of Bitcoin's rise

ChainCatcher news, CryptoQuant analyst Burak Kesmeci stated that the source of Bitcoin's rise is not retail investors. While retail investors are selling off, institutional investors and large investors continue to increase their holdings.

Since 2023, retail investors have been continuously selling Bitcoin, and their current holdings have turned into net negative. Starting from early 2024, institutions, large wallets, and ETFs have been continuously buying, forming the main force behind the current upward trend. Meanwhile, the search popularity for "Bitcoin" is low, indicating that retail sentiment has not yet surged, suggesting that the market may still be in its early stages.