Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

Bitcoin started July with a rally, but cooled off after positive US employment data was released. Despite this, some investors have returned to the market, betting on Bitcoin's growth. On-chain analyst Amr Taha noted a divergence between retail and institutional behavior in the BTC market. Binance Bitcoin futures Open Interest has remained below $11.5 billion, acting as strong resistance. Short-term holders, typically retail traders, have increased their exposure to the market by about 382,000 BTC, indicating renewed retail interest. Meanwhile, long-term holders reduced their holdings by a similar amount, possibly due to profit taking or risk management. Large holders offloaded about 12,000 BTC on July 3rd, signaling potential profit taking or strategic reallocation. Mid-sized whales also shed some of their holdings, selling around 14,000 BTC from June 30th. This suggests that whales are in their distribution phase, possibly anticipating further bearish momentum or awaiting better positioning opportunities. The Bitcoin market's future remains uncertain, dependent on the renewal of larger players' confidence.