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Bitcoin has once again captured the spotlight as retail demand surges to levels not seen since 2020. CryptoQuant analyst Darkfost recently analyzed this development in a report titled “Bitcoin retails Investor demand is surging” According to the analyst, the 30-day change in retail investor demand has reached its highest point in years, indicating a renewed interest in Bitcoin among smaller investors. This resurgence comes at a time when long-term holders are gradually realizing profits, hinting at a shifting market stance. Related Reading: Bitcoin’s Silent Whales: Rising Exchange Inflows Hint at Market’s Next Big Move $100k Now Possible Than Ever? The growing participation of retail investors often serves as a double-edged sword for the market. On one hand, it reflects increased engagement and optimism, which can drive demand higher. On the other hand, historical trends suggest that heightened retail activity frequently coincides with local market tops. Darkfost highlighted that Bitcoin appears to be entering a period of sideways trading, with prices ranging between key resistance and support levels. This phase of consolidation could lead to a temporary decline in retail demand as momentum slows. However, the analyst also suggested that a break above the $100,000 psychological barrier could reignite retail interest, potentially triggering a euphoric phase in the market. Historically, such euphoric phases have been characterized by steep price increases, driven by an influx of both retail and institutional capital. Darfost wrote: Monitoring the interplay between retail and institutional activity during this phase will be crucial, as strong retail participation often signals heightened market optimism, while institutional interest provides the foundation for sustained momentum. Bitcoin Market Performance Bitcoin now appears to be seeing a gradual resume in its price recovery after recent days of slightly to no movement. At the time of writing, Bitcoin is up by 1.4% in the past day with a current trading price of $95,713, at the time of writing. This brings BTC to roughly 3.9% decrease away from its all-time high of $99,645 seen in November. Additionally, this price mark has brought BTC market capitalization to $1.89 trillion as of today, with a 24-hour trading volume of $83.5 billion. Related Reading: Bitcoin to Enter Final Bull Phase? Key Indicator Hints at Major Price Movement Regardless of this sluggish price movement in BTC, analysts are still quite bullish on Bitcoin. Renowned crypto analyst known as Captain Faibik for instance has recently disclosed in a post on X that Bitcoin is still poised for a rally. Marking out a symmetrical triangle pattern formation on BTC’s daily chart, the analyst put the target for BTC at above $105,000. $BTC Next bullish Rally could be just Around the Corner.. 📈 Next Stop : $106K 🎯#Crypto #Bitcoin #BTC pic.twitter.com/KSIdwxI2uN — Captain Faibik 🐺 (@CryptoFaibik) December 3, 2024 Featured image created with DALL-E, Chart from TradingView