Retail investors have “disappeared” from the crypto market
According to CryptoQuant, retail investors are basically out of the market — there is no buying and no FOMO. The 30-day change in retail demand is at levels similar to the bottom of the 2022 bear market. The volume of transfers from wallets under $10,000 has also dropped — small investors are much less active now. Historically, this kind of retail capitulation often happens in the late stage of market corrections. But this does not mean the market will reverse immediately.