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

Odaily Planet Daily News: Coindesk analyst Aoyon Ashraf said that Bitcoin hit a historic high this week, mainly led by institutions, and retail investors were almost "absent" from this upward trend. A quick search on Google Trends using "Bitcoin" as a keyword reveals that the search frenzy of the 2021 bull market is now completely absent. Although there was a brief wave of retail enthusiasm during the US presidential election, a rapid Meme coin craze briefly ignited market sentiment. But that wave of heat has long since dissipated. Despite Bitcoin breaking through $111000 this week to reach a historic high, the price of Meme coin has rapidly declined, leading to a cooling of retail enthusiasm. Despite Bitcoin reaching a historic high, traders remain cautious, as evidenced by lower funding rates and increased short positions. The current market sentiment shows a trend towards more sustainable trading behavior, which may pave the way for long-term returns. （CoinDesk）