PANews reported on November 1st that CryptoQuant analyst Axel Adler Jr. stated that Bitcoin has entered an era dominated by institutions. The share of retail trading volume ($0-1000) has declined from 1.8% in 2021 to the current 0.48%, indicating a growing dominance of large institutions in total trading volume. As of October 2025, retail trading volume is expected to stabilize at an average of $108 million per day, significantly lower than the historical peak of $150 million to $132 million, potentially indicating a shift in market structure and a reduction in speculative activity by smaller participants. Trading volume in the $0-1000 range is 700,000 transactions per day, close to the historical average, but the average transaction size is lower than in previous periods, confirming a more conservative view of the retail market.

Over the past four years, retail trading volume has decreased nearly fourfold, indicating a shift in market control to large institutions and a diminished influence of smaller speculators on overall market dynamics. Currently, daily trading volume is stable at around $108 million, representing a new benchmark for retail investors in mature, institutionalized markets. In this market, the speculative enthusiasm of small investors is gradually being replaced by more balanced accumulation strategies.