Even though we may think that due to fear Retail usually sells out, this bear market retail entities actually increased to 17.1% of the total supply.

There are a lot of assumptions about bear markets that did not happen to be true as many experienced their first bear market last year and actually are still experiencing it. One of those, by now false, assumptions is that during a bear market due to fear which is created by the price downtrends, retail entities tend to paper-hand and sell out.

Firstly, what are Retail entities and especially in Crypto. Retail usually stands in contrast institutional investors as those are more of individual investors. We here could also be called retail but probably and more convicted group of retail. In Crypto, we identify retail by the size of holdings, for example 0-10BTC is seen as retail. This includes all from planktons (0-0.1BTC), shrimps (0.1-1BTC) to crabs(1-10BTC).

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Chart imported from Glassnode

This graph now shows how against all odds this bear market we sae retail massively grow, with each price leg down even more retail investors bought in. This probably also shows how much believe there is for Bitcoin to reach new heights and how many people are actually seeing that as a very amazing opportunity to buy in low now as the share of retail supply jumped from 12.7% to 17.1% in just under one year. In comparison the China mining ban in 2021 actually caused this to go down.

This just once again emphasises how much knowledge retail is gathering over the years and how by now they exactly know when to buy and have seen that buying in a bear market is the key to wealth in Crypto. Retail is getting a lot smarter through the years.