Retail investor demand for Bitcoin has surged to its highest level since 2020, boosting market optimism.Bitcoin Over the past day, the cryptocurrency has registered a 1.3% increase, bringing its trading price to $96,714 at the time of writing.
These indicators suggest a strong market presence as the asset approaches a critical psychological milestone of $100,000.According to CryptoQuant analyst Darkfost, Bitcoin’s 30-day retail demand change has reached its highest level since 2020. Historically, such retail activity has preceded local price tops, but it also highlights a broader interest that could fuel sustained momentum when combined with institutional investments.The surge in retail interest coincided with Bitcoin entering a sideways trading phase.
However, he cautioned that monitoring the balance between retail and institutional activity remains critical to sustaining market growth, as institutional participation provides long-term support.showed that Bitcoin’s Open Interest had increased by 1.66% before declining by 1.77%, reaching a press time valuation of $78.46 billion.The Spent Output Profit Ratio , another important indicator tracked by Glassnode, was 1.02 atthe time of writing.