Analyst: Bitcoin's current price surge is institution-led, with retail investors still adopting a wait-and-see approach

BlockBeats News, May 25th, Coindesk analyst Aoyon Ashraf stated that Bitcoin hit a new all-time high this week, mainly led by institutions, with retail investors almost "absent" from this upward trend. A quick search on Google Trends using "Bitcoin" as a keyword will reveal that the search frenzy seen during the 2021 bull market is now completely absent.

Although there was a brief wave of retail enthusiasm during the U.S. presidential election, a rapid meme coin craze briefly ignited market sentiment. But that wave of hype has long since subsided. Despite Bitcoin breaking above $111,000 this week to set a new all-time high, meme coin prices quickly fell, and retail enthusiasm cooled off accordingly.

Despite Bitcoin hitting a new all-time high, traders remain cautious, as seen from lower funding rates and increased short positions. The current market sentiment shows a trend towards more sustainable trading behavior, which may pave the way for long-term gains.