Analyst: Bitcoin's current rise is led by institutions, while retail investors remain on the sidelines

Odaily Planet News: Coindesk analyst Aoyon Ashraf stated that Bitcoin reached a historic high this week, primarily driven by institutional investors, with retail investors almost "absent" from this rally. A quick Google Trends search using "Bitcoin" as a keyword reveals that the search frenzy during the 2021 bull market is now completely gone. Although there was a brief surge of retail enthusiasm during the US presidential election, with a quick MEME coin craze momentarily igniting market sentiment, that wave of excitement has long since subsided. Despite Bitcoin breaking through $111,000 to set a new historical record this week, MEME coin prices quickly dropped, and retail enthusiasm cooled accordingly. Even though Bitcoin has reached a historic high, traders remain cautious, as evidenced by lower funding rates and increased short positions. The current market sentiment indicates a trend towards more sustainable trading behavior, which may pave the way for long-term returns. (CoinDesk)