The disappearance of large investors and retail trader fatigue are exacerbating the weakness of the BTC market.

A study of the Bitcoin (BTC) futures market dynamics shows further weakness, which has been entrenched since the price declined by approximately 30%—from $112,000 to $81,000—over the past two months. Previously cited indicators confirm that the market structure is increasingly shifting toward small retail trades, while large investors have yet to return. The average futures order size, calculated as the ratio of total trading volume to the number of trades, remains depressed, reflecting minimal participation from large portfolios and the lack of strong momentum for a reversal.

The Futures Volume Bubble Map shows the market's transition from a cooling phase to a neutral state, with activity even lower than two months ago. This highlights a further weakening of interest in futures and limits the likelihood of a sustainable recovery.

Even among retail traders, who have effectively supplanted the whales in recent months, a decline in engagement is being recorded. The Futures Retail Activity Through Trading Frequency indicator indicates that the number of active participants has dropped to the “low” category. This creates a double problem: the absence of large sellers and buyers is not compensated for by the actions of retail traders, whose activity has also noticeably declined.

The data demonstrates the continued weak structure of the Bitcoin market: large investors remain out of the market, retail flow is weakening, and overall activity continues to decline. Under these conditions, the potential for recovery appears limited. According to researchers, without a return of institutional demand or a clear increase in retail participation, the short-term outlook remains under pressure, and the market is at risk of further decline.

Source: cryptonews.net