According to BlockBeats, on June 4th, CryptoQuant analyst Caueconomy stated in a post that the demand for retail Bitcoin with a trading volume of no more than $100000 on the chain has decreased by about 2.45% in the past 30 days, indicating that small investors have not yet reached a frenzy in the current market. Although these participants may use other investment tools such as ETFs and Bitcoin finance companies, on chain fund structures typically respond sensitively to these fund flows, and currently there are still no structural frenzy market characteristics.