Quinten François highlights the low retail talk as Bitcoin ATHs lack the usual hype these days, and Altcoins remain stagnant.
Bitcoin has recently reached an all-time high, climbing over $111,000 amid a steady 18.2% increase over the last 30 days. This upward momentum, which pushed prices from around $102,000, reflects strong performance over the week.
But despite this price surge, market watchers point to a sharp contrast in public sentiment compared to previous Bull Runs. In particular, analysts and industry voices have observed a marked lack of retail excitement despite Bitcoin exceeding historic price caps.
Muted retail sentiment despite price breakout
Over the past week, industry figures have highlighted the suppressed response surrounding this milestone. Quinten François, co-founder and chief brand officer of Werate, has turned his attention to the lack of celebrations that are usually associated with Bitcoin's all-time highs.
The most silent bitcoin as I've ever seen
– Quinten | 048.eth (@quintenfrancois) May 22, 2025
Confirming this sentiment, a crypto analyst known as Crypto Kid observed that there was no sense of happiness in the market. François responded by pointing out the stagnant altcoin market as a possible factor.
Another market participant Emphasised The lack of Altcoin's activity could be reducing enthusiasm across the market, and Altcoins said it often creates excitement associated with crypto rallies.
Despite the price pump, Google's trends remain low
The reduction in visible hype is supported by search engine trends. As Bitcoin approaches a new peak, Matthew Sigel, head of digital assets research at Vaneck, said Google's search interest has dropped significantly compared to previous highs.
According to Google Trends data analyzed by Sigel, the US searched for “Bitcoin.” This was at a relative value of 30. That's well below the 75 recorded in late 2024, when Bitcoin reached $108,268. This gap suggests that public curiosity is not consistent with current price performance.
Organizational involvement is a key driver
meanwhile, data From Cryptoquant, it shows that US entities, including exchanges, banks and funds, are playing a growing role in Bitcoin's ongoing gatherings. The marked increase in US holdings is consistent with the technical “golden cross” formation.
Last year, a similar trend in institutional accumulation has resulted in significant price returns. The current pattern suggests that institutions may be the main force behind Bitcoin's movement, as opposed to previous cycles driven primarily by retail investors.
This institutional involvement may help explain why the market response remains quiet. Without significant retail participation, the typical indications of excitement, such as a growing search interest or extensive social media debate, would not be possible. Instead, the rally appears to reflect a more strategic accumulation by professional investors.
Is the market bullish?
Ultimately, without significant retail participation, the typical indications of excitement, such as a growing search interest or extensive social media debate, would not be possible.
However, such conditions often indicate the potential for untapped ups, as they could further amplify price movements when broader retail engagement finally returns.
