Zizcrypto
BTC: Retail Remains Reactive While Its Market Share Stabilizes
Bitcoin retail activity shows a divergence between transaction volume and its share in overall network activity. Small transaction volume (0–1K USD) continues to exhibit bursts of activity, with the 30-day average currently near ~$95M, reflecting reactive behavior as participants respond to price movements and volatility. In contrast, retail share (0–10K USD) rose from mid-2022 into early 2023, before entering a sustained decline and transitioning into a stabilization phase, now holding near ~0.7% of total activity. This divergence highlights a key dynamic: retail activity remains event-driven and tied to price movements, while its structural role in the market has stopped expanding. In this context, retail participation is primarily concentrated in short-term reactive flows rather than sustained engagement. As a result, retail remains active in transaction flows, but without a growing role in overall market structure. Source: CryptoQuant