CryptoQuant contributor caueconomy stated, "In the past 30 days, retail demand has grown by about 13%. Notably, in the past four months, the activity of these small investors has declined while whale players have maintained a large amount of trading and holdings.
The recent rise in Bitcoin is prompting retailers to return to trading, marking the beginning of a risk-averse sentiment decline pattern. On-chain transactions with a maximum value of $10,000 are one way to track small investor activity and reflect market sentiment among non-institutional participants. This type of activity pattern is more sensitive to market sentiment and news than fundamentals but can serve as an information source for fund flows on the network."