CryptoQuant analysts say demand from bitcoin retail investors is skyrocketing, with 30-day demand from bitcoin retail investors reaching its highest level since 2020. Analysts say the surge in retail interest may partly explain continued strong demand, even as long-term holders begin to take profits. Historically, increased retail participation has tended to signal a potential partial top. However, it also highlights increased market engagement, which when combined with institutional interest can create sustained positive momentum.