CryptoQuant's data shows that retail trading activity for Bitcoin remains in a "neutral" state, with no significant FOMO (Fear of Missing Out) sentiment observed. Despite Bitcoin's strong performance in recent price movements, retail investors have not entered the market on a large scale, contrasting with the noticeable increase in retail activity during historical peaks. CryptoQuant's CEO, Ki Young Ju, stated that its retail activity indicator is based on the growth trend of transaction volumes across all exchanges, including various trading pair data from both the spot and futures markets.