Bitcoin: Has Retail Arrived Yet?

Market Analysis - The cryptocurrency market is currently more institutionally driven compared to the retail-driven cycles of 2017 and 2021 [4][25] - Social risk, an indicator of retail interest, remains relatively low at 0.103, suggesting limited retail participation [5] - YouTube views for top crypto channels are around 120 万 (1.2 million) on a 7-day moving average, lower than previous market tops [11] - The advanced decline index for the top 100 cryptocurrencies has been declining, indicating that larger cryptocurrencies like Bitcoin and Ethereum are driving market cap increases [17][18][19] Bitcoin and Altcoins - Bitcoin has been dominating gains in this cycle due to low retail interest, causing altcoins to lag [8] - While Ethereum's valuation against Bitcoin has improved, it hasn't significantly increased retail interest [3][8] - In the current market, only a few coins are performing well, with rotation occurring between different sectors of the asset class [16][17] Future Outlook - The cryptocurrency market will monitor social risk to determine if it establishes higher lows, potentially signaling increased retail participation [23][24] - Whether retail investors will return remains uncertain, with the end of the year being a potential timeframe for a clearer indication [26]