The 30-day change in Bitcoin retail investor demand has surged to +4.38%, recovering sharply from a -8.2% low earlier in March. Meanwhile, the share of short-term holder supply sitting in loss dropped to 38% after the recent price rally. But the picture isn't fully rosy — retail transaction volume still hasn't climbed back to February levels, indicating the rebound hasn't drawn in the full crowd yet.
Demand bounces back
The swing from negative to positive territory is the widest since the start of the year. Demand among individual investors turned deeply negative in March, but the past month has reversed that trend. The +4.38% reading suggests fresh buying interest has returned, at least among retail wallets tracked by on-chain data.
Short-term holders lighten the load
Short-term holders — investors who bought Bitcoin within the last 155 days — have seen their position improve materially. The percentage of their supply in loss fell to 38% from a higher level earlier this quarter. That drop means roughly three-fifths of recent buyers are now holding at a profit, a psychological threshold that often reduces selling pressure.
Volume still lagging
Even with the demand uptick, retail transaction volume remains below what the market saw in February. That's a warning sign that participation isn't back to full strength. The rally over the past month has been driven by a narrower base of buyers, leaving the recovery fragile if broader interest doesn't pick up.
Price holds above $80K
Bitcoin is trading around $80,700 at press time, down about 1% over the past week. The price has stabilized after the rally that started in April, but it hasn't broken out to fresh highs. The combination of rising demand and falling loss supply is supportive, but the missing volume leaves the market at a crossroads — either more buyers step in soon or the momentum stalls.
