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Bitcoin Hits New Highs As Retail Lags, Institutions Drive Rally
HomeNews* Bitcoin reached new record highs this week but retail investor interest remains limited.
Google Trends shows a modest 8% increase in global searches for “Bitcoin” between June 29–July 5 and July 6–12. During this period, Bitcoin’s price hit new records, moving from $111,970 on Wednesday to $118,780 by Friday, based on Google Trends and CoinMarketCap data. However, search interest is still 60% below the week after the 2024 U.S. presidential election, a time when Bitcoin first reached $100,000.
Some commentators believe the high price is discouraging retail buyers. Bitcoin commentator Lindsay Stamp posted that many see the current price of one Bitcoin as too expensive and feel they’ve missed the boat. Podcast host Cedric Youngelman voiced a similar view, asking when retail investors might re-enter the market, suggesting it may not be soon.
Onchain analyst Willy Woo said the current rally may continue, stating that this run has plenty of legs left in it. Meanwhile, spot Bitcoin ETFs accumulated $2.72 billion in net inflows over five trading days, according to Farside data.
Some reports note that if ETF shares are being held by individual investors, onchain data might not fully reflect all retail participation. For now, most evidence points to institutional investors fueling Bitcoin’s latest move higher.
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