According to BlockBeats, on October 1, CoinDesk senior analyst James Van Straten said that in the current cycle, there may not be so many retail investors, and they are becoming more sophisticated.

James said retail investors were an important factor in the last cryptocurrency bull run, helping to drive up prices and market enthusiasm for digital assets. Many entered the crypto market for the first time during the COVID lockdown from 2021 to 2022.

This bull cycle started in mid-2023 and is more institutionally led. Today, the main topic revolves around ETFs and the slow but steady adoption of TradFi. So far, retail investors have not returned in the same numbers. (Meme coins are an exception)