According to on-chain analytics platform CryptoQuant, the current Bitcoin bull cycle is largely driven by institutional investors and individuals with high portfolio values.
CryptoQuant: Bitcoin Rise Driven by Institutions, Retail Investors Not Yet Involved
Analysts state that individual investors have tended to sell since the beginning of 2023, while institutions have entered a period of serious accumulation since the beginning of 2024.
According to Google Trends data, search volumes for “Bitcoin” are still low, and the FOMO (fear of missing out) behavior driven by retail investors seen during the 2021 bull market is absent. This suggests that retail investors have not yet entered the market on a large scale.
CryptoQuant analysts argue that this could be a positive sign for the market, as the fact that retail investors have not yet entered the game suggests that Bitcoin prices could rise even higher.
However, it is also emphasized that the moment when individual investors enter the market en masse may indicate that this cycle is nearing its end.
This analysis reveals that institutional interest is at the core of the current rally and that the market has not yet reached saturation.
*This is not investment advice.