According to recent reports by COINOTAG, Bitcoin has surged to a remarkable price of $73,562, edging closer to its record high. This rally, however, contrasts sharply with the dwindling retail interest reflected in Google Trends. As of late October, searches for “Bitcoin” remain subdued at just 23 points out of a possible 100, a stark drop from its previous all-time high observed in May 2021.
While the cryptocurrency market displays a resurgence in prices, the Coinbase app has shown a sluggish performance, currently positioned at 308th in the Apple App Store rankings, despite a notable 167-spot increase over the last weekend. This fluctuation suggests that while retail investors are gradually re-engaging, their enthusiasm pales in comparison to institutional movements.
Furthermore, analysis from CryptoQuant indicates that retail Bitcoin investors are slowly re-entering the market. Interestingly, the recent dip in retail transaction volume highlights a potential trend; when retail activity wanes, it often precedes significant price movements in Bitcoin.