Researchers at Crypto have noted that Bitcoin has reached new all-time highs this week, but it seems retail investors are hesitant to dive into the market.
On the other hand, the interest in Spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) has surged, with daily inflows on Thursday and Friday surpassing $1 billion for the first time on two consecutive days.
Bitcoin Surge Described as “Driven by an Engine”
Bitwise Head Andre Dragosch mentioned that while Bitcoin prices are at a peak, retail interest appears almost nonexistent. He pointed out that searches for “Bitcoin” on Google have significantly dwindled, despite the asset reaching its highest value this week.
According to Google trends, global search interest in “Bitcoin” saw an 8% increase from June 29th to July 5th and then again from July 6th to July 12th, amidst Bitcoin hitting a record price of $111,970 on Wednesday and climbing to $118,780 by Friday.
Nonetheless, it’s worth noting that Bitcoin search interest is still 60% lower compared to the week following Donald Trump’s presidential election win in November 2024, a period that saw Bitcoin surging to $100,000 for the first time back in December.
Bitcoin Supporters Claim Retail Investors Feel They’ve “Missed the Boat”
Some advocates believe that retail investors may be viewing Bitcoin’s current price as prohibitively high. Bitcoin commentator Lindsay Stamp remarked that with Bitcoin priced at $117,000, many might think it’s too late to invest.
Similarly, Cedric Youngman, host of the Bitcoin Matrix Podcast, expressed doubt that retail investors would come back to the market soon, pondering what price points might entice them.
Onchain analyst Willy Woo has indicated that the Bitcoin upswing isn’t finished yet, asserting, “There are still many feet left in this run.” He hinted at ongoing potential for price increases.
Meanwhile, the Spot Bitcoin ETF has had a robust trading week, seeing $2.72 billion in inflows over five days. Recent reports suggested that if the final holder of the BTC ETF share is indeed a retail client, it might be time to rethink interpretations of Onchain data, as this could signal genuine retail demand for Bitcoin.
