Institutions, Not Retail, Likely Fueling Bitcoin's Surge Past $60K
• Retail investors not highly active in bitcoin's recent price surge over $60,000, based on on-chain data and web searches
• Institutional investors potentially driving this bitcoin price rally phase
• Bitcoin transaction volume increasing but not near 2021 peak levels
• Number of new Bitcoin addresses steady after spike last year from NFT project Ordinals
• Analysts suggest institutional bitcoin accumulation happening via ETFs, with over $6.7B in inflows