But the moment $BTC bounced, demand ticked back.

Market conditions change. Retail psychology doesn't.

- Retail Demand 30D Change: -11.6% at the 66-67K lows - darkest reading since 2022 bear

- Recovery to -1.4% as price hit 78K - retail activated within weeks of the bounce

- Transfer volume ($0-10K): 344M/day vs 600M+ at 2021 peak - structurally lower base, same behavioral pattern

Every cycle bottom looks the same on this metric. Retail exits or goes quiet. Price bottoms. They re-enter chasing green.

⚠️ Low retail participation at lows is not a contrarian buy confirmation - it's just what happens. The risk is when they pile back in near highs and this reading flips to +10%+.

Written by IT Tech