Golden Finance reported that CryptoQuant analysts said that demand from retail Bitcoin investors is surging, with BTC retail investors' 30-day demand reaching its highest level since 2020. Analysts said that the surge in retail interest may partly explain the continued strong demand, even as long-term holders begin to take profits. Historically, increased retail participation has often heralded potential local tops. However, this also highlights that increased market participation, when combined with institutional interest, can create sustained positive momentum.