Bitcoin has been on a strong rally, holding above $100K after a two-week surge. However, retail investors remain cautious as big institutions dominate the market, with retail interest declining. If Bitcoin surpasses $109,350, retail interest may pick up again.
According to Google Trends, searches for “Bitcoin” have dropped to levels last seen in June 2024 when BTC was trading at $66,000. Similarly, Coinbase’s ranking in the US finance app has slipped to 15th place, a position last held in mid-2024.
Historically, retail investors tend to buy Bitcoin after major breakouts, missing out on early gains. Analyst Sky Wee warns that as more individuals sell Bitcoin, big institutions are buying more, potentially giving them more control over Bitcoin, which was originally meant to protect people from traditional banking systems.
Analyst Ali Martinez shared a chart showing Bitcoin’s long-term holders transitioning from extreme optimism to a phase of potential belief or denial as prices surpass $100,000.
Bitcoin’s dominance is waning, which could signal a comeback for altcoins, especially if Ethereum outperforms Bitcoin at the 0.03 level. Analysts suggest that market corrections may be volatile but see them as buying opportunities for altcoins.
As long as Bitcoin stays above $98K, the market remains healthy, offering altcoins a chance to bounce back. Experts anticipate a full-fledged altseason in June, with many altcoins already outperforming Bitcoin.
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