This week, Bitcoin sets new records; however, retail investors are showing caution. Experts point out that the growth in cryptocurrency interest is mainly driven by institutional purchases.
Rise in Interest for Bitcoin and ETFs
Bitcoin has reached new all-time highs, with a significant surge in demand for spot Bitcoin ETFs. On Thursday and Friday, over $1 billion in daily inflows were recorded into these funds, marking the first occurrence of such significant amounts on two consecutive days.
Experts' Opinions on Retail Demand
André Dragosch, head of research at Bitwise, notes that despite the new highs, retail investor interest in Bitcoin remains modest. 'The latest leg up is mostly driven by institutions,' he stated in a post. He remarked that web search interest for 'Bitcoin' has hardly increased, despite the established all-time high.
Market Outlook for Bitcoin
Some experts believe that retail investors may perceive Bitcoin's price as too high for entry. Bitcoin commentator Lindsay Stamp mentioned that many investors might view a price of 117k as too high to enter the market. However, on-chain analyst Willy Woo asserts this upward trend is far from over and has plenty of legs left.
The Bitcoin market is showing strong performance; however, retail investor interest remains low, raising questions about the actual demand for cryptocurrency among the general public.
