Bitcoin pullback triggers decline in retail transaction volume

As Bitcoin (BTC) retreats from its all-time high of $111,000 reached on May 22, retail investor activity appears to be waning, according to an analysis on CryptoQuant by analyst Burak Kesmeci. The flagship cryptocurrency has dropped roughly 7% and is now trading near $104,000. Transfer volume involving transactions between $0 and $10,000 declined from $423 million to $408 million. The 30-day change in retail demand also shifted, dropping from a 5-point increase to a slight decline of 0.11 points. The analyst notes that this data suggests smaller investors may be reacting to short-term price movements, even as institutional interest appears to remain steady.