IntoTheBlock: Retail investors have low participation in Bitcoin’s rise above $60,000

Analysts at IntoTheBlock pointed out that on-chain data and web search trends show that retail investors have been less involved in Bitcoin’s rise to over $60,000. Notably, Coinbase’s app rose to the No. 1 spot for downloads on Apple’s U.S. App Store in late October 2021, coinciding with the peak of the crypto market. Analysts added that Bitcoin on-chain transaction volume has been increasing but is well below levels seen during the market's peak in 2021. It also said: "Despite the incredible price action of Bitcoin, current data points to calm retail investors. This suggests that institutional investors may dominate this stage. ETFs are seen as potential accumulation vehicles." (CoinDesk)