Retail investors have been the largest net sellers of Bitcoin throughout 2025, as evidenced by their Google search trends, which have dropped to levels not seen since June 2024. Currently, Google search interest for Bitcoin remains low, despite the cryptocurrency nearing $104,000 on May 14, indicating a lag in public interest. Historical data suggests that retail investors tend to react after significant price milestones, typically peaking their interest about a week after Bitcoin surpasses previous all-time highs, which may indicate an upcoming surge in demand. In 2025, retail investors sold an estimated 247,000 BTC amounting to $23 billion, while institutional purchases have risen significantly. Notably, the Coinbase app's ranking reflects ongoing low retail engagement, seesawing between 15th and 20th position in the finance category. Past trends indicate that when Bitcoin achieves new highs, like it did in November 2024, retail interest spikes. This pattern underlines that despite dips in retail transactions now, a renewed influx of interest often materializes following new price peaks.

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