The latest report released by Matrixport shows that despite Bitcoin nearing its all-time high, overall cryptocurrency trading volume remains sluggish. This suggests that retail investors may not be actively participating in the current market rally, especially in the traditionally retail-dominated South Korean market, where trading volume remains low. This price increase may be primarily driven by institutional investors and corporate buyers, while retail investors are on the sidelines. Historically, retail investors typically enter during the later stages of market cycles, potentially providing the final push before local peaks, as seen in February and November 2022. This pattern may reoccur, with retail investors possibly entering the market before another peak.