Retail trader activity for bitcoin is currently at normal levels, significantly lower than during past bull and bear markets, indicating a potential wait for retail exit liquidity.
In recent months, fewer than 40,000 wallets have been active each day on exchanges like OKX and Binance, which is lower than even during the 2019-2020 bear market.
We're in the middle of a bull cycle, with new whales accumulating BTC from older ones, as retail investors have yet to ramp up purchases, according to CryptoQuant's founder.
Historically, October has been bullish for Bitcoin, but retail investors are lagging behind institutions as net inflows from smaller investors remain at normal levels.
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