Retail investor demand for Bitcoin remains subdued as BTC nears new highs, indicating a divergence in market dynamics.
Data from CryptoQuant shows flat or negative retail participation in BTC demand, contrasting with previous bull cycles driven by retail enthusiasm.
The current rally is suggested to be institutionally driven with potential for further upside if retail investors join in.
Analysts predict a potential peak around November–December 2025 based on historical Bitcoin cycle data, emphasizing the importance of monitoring retail participation.