Bitcoin is once again drawing attention from retail traders as its price continues to trend near all-time highs. While institutional investors still lead the market, signs show individual investors are making a strong comeback.
On June 11, blockchain analytics platform Santiment reported a noticeable rise in positive Bitcoin discussions across social media. The firm stated that the number of bullish comments about Bitcoin has doubled compared to negative ones, reflecting renewed interest from retail participants. According to Santiment, this is the highest level of positive retail sentiment since the U.S. presidential election more than seven months ago.
This increase in optimism comes as Bitcoin flirts with its record price level, last seen in late May. The flagship cryptocurrency surged past $110,000 earlier this week, bringing it within $2,000 of its all-time high of $111,814 set on May 22.
As prices climb and retail interest surges, analysts are warning that market sentiment is entering “greed” territory. The Bitcoin Fear and Greed Index—a tool used to measure investor emotions—currently reads 71, a level historically associated with market tops.
Santiment pointed out that when retail sentiment becomes overly optimistic, markets often move in the opposite direction. “Spikes in discussion related to Bitcoin’s all-time high are solid top signals, indicating greed,” the firm noted.
Despite rising prices and some profit-taking, on-chain data suggests that long-term Bitcoin holders are not exiting the market. In its latest report, analytics firm Glassnode observed that seasoned holders—those who have held their Bitcoin for more than 155 days—are cashing out an average of $930 million in profits per day.
However, their overall Bitcoin holdings continue to grow. More coins are transitioning into long-term holdings than being sold off, indicating that many of these investors are also reinvesting or simply holding more than they are selling.
Glassnode called this behavior a “unique duality,” where profit realization and accumulation occur simultaneously. This pattern sets the current market apart from previous bull runs, where profit-taking often led to significant supply reductions by long-term holders.
Adding to this unusual dynamic, CryptoQuant analysts noted that whales—large holders of Bitcoin—appear to be staying put. These major investors have shown little interest in selling at current price levels.
Instead, CryptoQuant believes they are waiting for the market to heat up even further. Historically, whales tend to act once prices become significantly overheated, potentially during the final stages of a bull cycle.
Amid rising optimism for Bitcoin, global economic concerns are also giving the asset additional appeal. U.S. Treasury Secretary Scott Bessent recently warned that failing to raise the debt ceiling could create the most severe financial crisis since 2008.
This warning has reignited conversations around Bitcoin’s role as a hedge against monetary instability. Analysts at Swan Bitcoin commented, “Default isn’t an option, money printing is. Game theory favors the asset with a fixed supply. That’s Bitcoin.”
Bitcoin’s capped supply of 21 million coins continues to be one of its main attractions during times of monetary expansion and inflation fears.
From a technical perspective, Bitcoin remains on solid ground. Popular market analyst ‘Rekt Capital’ noted that BTC has now retested the $104,400 resistance-turned-support zone for four consecutive weeks. This range, once a major barrier, now appears to be forming the foundation for the next leg up.
As of Thursday morning’s Asian trading session, Bitcoin saw a minor pullback, dropping slightly below $108,000. However, with strong support levels intact and retail momentum growing, many traders see this as a healthy consolidation.
The broader trend remains bullish, especially with the recent confirmation of $104K as a strong support range. If momentum continues, Bitcoin could revisit and possibly exceed its previous high of $111,814 in the near term.
Retail traders are stepping back into the market just as Bitcoin edges close to uncharted territory. Social sentiment, technical indicators, and institutional behavior all point to a complex but optimistic outlook.
While excessive greed could cause short-term volatility, long-term investor behavior and macroeconomic trends continue to support Bitcoin’s narrative. Whether the next major breakout happens this week or later, it’s clear that Bitcoin’s influence in both traditional finance and retail investing is only growing stronger.
Julie is a renowned crypto journalist with a passion for uncovering the latest trends in blockchain and cryptocurrency. With over a decade of experience, she has become a trusted voice in the industry, providing insightful analysis and in-depth reporting on groundbreaking developments. Julie's work has been featured in leading publications, solidifying her reputation as a leading expert in the field.
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