Bitcoin Retail Volume Is Up More Than 15% Over Last 30 Days

On-chain data shows the Bitcoin retail volume has sharply increased recently as the cryptocurrency has surged to a new high.

Bitcoin (BTC) retail volume has seen a sharp increase over the past few weeks as the cryptocurrency rallied to a new high.

According to data from CryptoQuant, the 30-day change in retail investor transfer volume has surged to positive levels, indicating a strong interest from this group.

The indicator shows that retail investors were attracted to the network en masse as BTC rallied. This cohort showed a similar burst of demand back during the rally of Q1 earlier this year. Similar trends were also observed on multiple occasions in the 2021 bull run.

Historically, rallies that failed to amass retail interest usually ended up not lasting for too long, as the influx of investors tends to sustain such runs. From this perspective, the current rally appears safe, as retail volume has increased by more than 15% over the past month.

Another indicator for measuring demand related to Bitcoin is the Coinbase Premium Index. This metric keeps track of the difference between the Bitcoin prices listed on Coinbase (USD pair) and Binance (USDT pair).

This indicator does not reflect the demand from retail investors but from American institutional investors, who have a strong presence on Coinbase.

As CryptoQuant head of research Julio Moreno pointed out in an X post, the Bitcoin Coinbase Premium Index has recently shot up into the positive region.

A positive value of the index suggests BTC is trading at a higher price on Coinbase as compared to Binance, which in turn implies the US-based whales are showing demand for the cryptocurrency.

BTC Price

Bitcoin is looking to explore another high as its price has surged back to the $75,900 mark.