A recent analysis of Bitcoin’s relative transfer volume reveals interesting trends in the crypto market. The breakdown of transfer sizes adjusted by entity shows that in January 2024, transfers under $1,000 made up a small portion of overall activity. On the other hand, transactions between $1,000 and $10,000 saw a slight increase, indicating a rise in retail participation.
Larger transfers in the $10,000 to $1 million range showed an increase, suggesting heightened institutional activity. However, transfers over $10 million experienced a decline. Between mid-January and April, volume over $10 million surged before decreasing, hitting a low in May.
The levels for the largest transfers rebounded in late May and have stabilized since. Overall, the analysis points to a shift in Bitcoin’s user base towards larger transactions, potentially reflecting post-halving market conditions and increased institutional presence.
