Bitcoin retail demand dips just 2% as analyst eyes BTC price breakout

Bitcoin (BTC) retail investors remain active despite a month of BTC price consolidation, new analysis concludes.

In one of its Quicktake market updates on Feb. 13, Cauê Oliveira, a contributor to onchain analytics platform CryptoQuant, suggested that BTC price upside may soon return.

BTC price consolidation could be “nearing its end”

Bitcoin retail investors have barely decreased network participation over the past month.

Investigating onchain volumes of transactions traditionally associated with the retail cohort — worth up to $10,000 — Oliveira revealed that rangebound BTC price action has not resulted in a significant difference in behavior.

“After another long period of normalization caused by price sideways movement, retail demand is close to growing again, something that could have a positive impact on bitcoin,” he explained. 

“In the last 30 days, retail investor activity fell by around 2%, a much smaller figure than the 20% recorded in January.”

Retail volumes boomed as BTC/USD hit current all-time highs near $110,000 in mid-January. Since then, boredom has characterized the market as Bitcoin ranges in a familiar corridor.

This status quo, however, could soon change.

“Periods of growth in the monthly variation of retail investor activity are consistent with improvements in market sentiment, favoring the short-term structure of bitcoin,” Oliveira concluded. 

“It is possible that the current consolidation structure is nearing its end.”

Mainstream Bitcoin interest drains away

The data marks the second potentially bullish signal from investors this week. As Cointelegraph reported, whale exchange habits are teasing a return of the Bitcoin bull market as exchange inflow dominance near multi-year highs.

Related: Can new Bitcoin whales stop a sub-$90K BTC price crash?

Mainstream interest, meanwhile, further demonstrates that indifference is the overriding mood when it comes to crypto.

The latest data from Google Trends shows no meaningful change in the slow comedown in mainstream consumer interest in Bitcoin.

Search activity peaked in early November, just after BTC/USD first broke through all-time highs set in March.

Since then, not even fresh peaks have been enough to keep engagement alive.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.