Bitcoin (BTC) Market Structure Remains Stable Despite Price Rally; Retail Interest Subdued

On-chain activity for transactions under $10,000 has declined by 19.34% in recent days, according to verified CryptoQuant analyst Causeconomy, suggesting subdued retail interest.

Recent days have seen a decline in on-chain activity for transactions below $10,000, with a 19.34% decrease noted by Causeconomy, a verified CryptoQuant analyst, indicating a potential shift in retail interest.

Bitcoin's price has been fluctuating between $100,000 and $109,000 since Trump's inauguration on Monday, with the cryptocurrency currently trading at levels above $105,000.

Historically, periods of high volatility have tended to drive demand for on-chain activity, but this trend appears to be diverging in the current market cycle. Retail activity peaked in December and has since shown a gradual decline.

Despite Bitcoin's strong performance, key on-chain metrics suggest that the market structure remains stable and not overly stretched, indicating potential for further uptrends.

According to Google Trends data, retail interest in the United States for the terms "Bitcoin," "how to buy crypto," and "altcoins" is higher compared to last year but not to the extent many anticipated, especially considering Bitcoin's price突破100,000美元。

Currently, searches for "Bitcoin" in the US are indexed at 52 on Google Trends, showing a noticeable increase compared to the same period last year.

It's worth noting that around this time last year, there was a surge in Bitcoin search interest, which was largely attributed to the approval of Bitcoin ETFs and brought broader market attention to the cryptocurrency.

While search interest is higher year-over-year, it still remains far below the euphoric levels observed in 2021, during which Bitcoin's ascent to previous all-time highs captivated mainstream interest.