Since the beginning of 2023, the daily inflow of BTC from retail investors to Binance has sharply decreased from 552 coins to 92 coins, exacerbated by the launch of the Spot ETF.

PANews, November 3 - According to CryptoQuant analyst Darkfost, the activity of retail investors holding less than 0.1 BTC has significantly decreased during this cycle. Data shows that since the beginning of 2023, the 90-day moving average of retail inflows to Binance has plummeted from 552 BTC to the current 92 BTC, a decline of more than five times. This trend has intensified, especially after the launch of the Spot ETF in January 2024. Analysis indicates that the reasons for the decrease in retail investor inflows include some users shifting to the ETF market, more investors opting to hold BTC for the long term rather than selling, and some “small fish” exiting this statistical category due to continuous accumulation of BTC. This phenomenon suggests that the dominant forces and behavior patterns in the market are undergoing significant changes.