随着BTC接近104,000美元，零售比特币（BTC）投资者需求接近6个月的低点

Google搜索数据和应用排名显示，零售比特币投资者需求接近6个月的低点。

Retail interest in Bitcoin (BTC) usually spikes about one week after the cryptocurrency breaks its previous all-time high, but this time it seems like the narrative is unfolding a bit later than usual.

对比特币（BTC）的零售兴趣通常在加密货币打破以前的历史最高水平之后大约一周后，但这一次，叙述似乎比平常晚了。

As BTC approaches $104,000, we’re seeing minimal public interest and retail activity, especially considering the price levels.

随着BTC接近104,000美元，我们看到的公共利益和零售活动最少，尤其是考虑到价格水平。

According to River’s latest report, this lack of retail interest is due to the fact that in 2025, we saw a massive net selling pressure from retail investors while institutions were the main buyers.

根据River的最新报告，这种缺乏零售利益是由于以下事实：2025年，我们看到零售投资者的净销售压力很大，而机构是主要买家。

According to the report’s estimates, individual investors sold a total of 247,000 BTC throughout 2025, which equals about $23 billion at the average price during the period.

根据该报告的估计，个人投资者在2025年总共出售了247,000 BTC，在此期间的平均价格相当于230亿美元。

On the other hand, we had companies like Michael Saylor’s Strategy, which accounted for 77% of the 157,000 BTC acquired by businesses that year.

另一方面，我们拥有像迈克尔·塞勒（Michael Saylor）的战略这样的公司，该公司占当年企业收购的157,000 BTC的77％。

Retail interest for Bitcoin nears 6-month lows

比特币的零售利息近6个月低点

The report highlighted that the current search trends for the term “Bitcoin” are at levels last seen in June 2024, when BTC was trading around $66,000 after three months of failing to break above $73,000.

该报告强调，“比特币”一词的当前搜索趋势在2024年6月最后一次出现，当时BTC在三个月未能中断73,000美元以上交易约66,000美元。

Similarly, the Coinbase app now ranks 15th in the US App Store within the finance category, which is comparable to its 20th-place ranking in June 2024, according to data from The Block.

同样，根据该街区的数据，Coinbase App现在在财务类别中在美国App Store中排名第15位，根据该块的数据，该应用程序与2024年6月的第20名排名相当。

If we can use mobile app rankings and Google search trends for “Bitcoin” as a proxy for retail interest, then we can observe that demand last peaked on November 15, 2024.

如果我们可以将“比特币”的移动应用程序排名和Google搜索趋势作为零售利息的代理，那么我们可以观察到需求在2024年11月15日达到顶峰。

At that time, the Coinbase app jumped from the 40th to the 5th position in under two weeks, as reported by Asya Kamay in her analysis on December 18, 2024. Concurrently, search activity spiked to its highest level in over two years.

当时，Coinbase App在2024年12月18日的分析中报道的那样，在两周内，Coinbase App从第40位跃升至第五位。同时，搜索活动在两年内达到了最高水平。

The report pointed out that the retail excitement coincided with Bitcoin breaking its previous all-time high of $73,757 on November 6, 2024, with the apex of excitement being reached nine days later.

该报告指出，零售兴奋是比特币在2024年11月6日打破了其先前的73,757美元的历史高点，九天后的兴奋之心就达到了。

Although retail traders missed most of the gains from the $67,000 level a month earlier, the bullish trend continued as Bitcoin surged to $107,000 by mid-December 2024.

尽管零售商人在一个月前的67,000美元级别中错过了大部分收益，但看涨的趋势持续了，因为到2024年12月中旬，比特币飙升至107,000美元。

The report highlighted that usually, a sustained period of high interest from retail investors occurs after a cryptocurrency experiences a significant price increase from relatively low levels, which is something that didn't happen in 2024.

该报告强调，通常，在加密货币经历相对较低的水平的价格大幅上涨之后，散户投资者的持续持续高兴趣时期发生，这是2024年没有发生的事情。

The report pointed out that the net outflows from retail investors while Bitcoin trades 5.5% below all-time high support the "Bitcoin" search trends and Coinbase app rankings, which supports the idea that retail demand emerges roughly one week after a previous all-time high is surpassed.

该报告指出，零售投资者的净流出，而比特币的交易价格低于历史高的支持“比特币”搜索趋势和Coinbase应用程序排名，这支持了零售需求在以前的历史高高超过一周后出现大约一周的想法。