Bitcoin breaks 100,000 USD, but no one cares for 100 days? Why is the bull run so lonely?

Question

Bitcoin (BTC) has held above $100,000 for 100 consecutive days, setting a new historical high, which would have triggered a frenzy among global retail investors in any previous cycle. However, this bull run has been unusually quiet — taxi drivers are no longer discussing it, relatives and friends are no longer asking about it, and even Google search interest is astonishingly low.

In this bull run, retail investors are collectively absent

In the history of Bitcoin, every breakthrough of key integer levels (100 USD, 1,000 USD, 10,000 USD) has sparked a wave of adoption and investment frenzy. However, this time, even though BTC has firmly held above six figures, retail investors have chosen to sit on the sidelines.

Analysts believe that the reasons may include:

The painful experience of the last bull run has made retail investors cautious.
The listing of Bitcoin ETFs, the U.S. presidential election, and other events have made the market atmosphere more inclined towards institutional dominance.
Retail investors believe that the crypto market "is no longer suitable for them."

Google Trends data shows that the search volume for Bitcoin is even lower than that for "Japanese Walking Street" and "Rabbits Plush Toy", indicating a significant decline in public interest.

The technicals remain strong

Despite the lack of retail investor participation, the technical aspect of Bitcoin continues to strengthen:

· The 200-day moving average has solidly broken above 100,000 USD.

· Long-term resistance has been successfully converted into support

Historical data shows that this pattern often indicates the continuation of a bull run.

For traders and long-term holders, this is a highly confident signal. However, the main source of funds in this round has shifted from retail investors to institutional investors and pension funds.

Institutional Takeover: 401(k) and Crypto Assets

In 2025, the US retirement plan will undergo significant changes - Bitcoin and other cryptocurrencies will be officially allowed to be included in mainstream retirement accounts such as 401(k).

This means that tens of millions of Americans can use legal channels to incorporate BTC as part of their long-term asset allocation.

However, this system dividend did not trigger FOMO (fear of missing out) among retail investors; instead, it further solidified Bitcoin's position as an institutional-grade asset.

The Loneliness of a Bull Run: From Speculation to Asset Allocation

In past Bitcoin bull runs, there was often a frenzy of speculation surrounding Meme coins and altcoins, along with widespread discussions on social media. However, even though some analysts believe that an altcoin season is brewing, market sentiment remains subdued.

The characteristics of this bull run are:

· Speculative atmosphere weakened

· The proportion of institutional funds has increased

· Retail investor participation hits an all-time low

Bitcoin has shifted from a high-risk speculative asset to a core asset in retirement investment portfolios and institutional diversification.

Conclusion

Bitcoin has held above 100,000 USD for 100 consecutive days, which should have been a historic moment for the crypto market. However, this bull run lacks the past excitement and frenzy, replaced instead by the steady advance of institutional funds and the collective silence of retail investors.

Perhaps this marks Bitcoin entering a whole new era—from a "speculative game" to "asset allocation," but it also makes this bull run seem particularly lonely.