- Bitcoin retail inflows on Binance fell to a record low of 314 BTC from sub-1 BTC wallets.
- Analysts noted retail participation has steadily declined as investors shift toward ETFs.
- BTC traded near $76,500 with persistent outflows but continued short-term bearish pressure.
Bitcoin retail participation dropped to its weakest level ever recorded on Binance as BTC traded near $76,500 on May 18. According to analyst Darkfost, monthly average retail inflows fell to just 314 BTC from wallets holding less than 1 BTC. The decline came as Bitcoin prices weakened and exchange outflows accelerated across the broader market.
Retail Activity Continues Sliding
According to Darkfost, retail inflows previously averaged around 1,800 BTC during the recent bear market. The figure also reached roughly 1,200 BTC during Bitcoin’s first major top in March 2024.
However, activity has steadily declined since then. Darkfost noted that retail inflows still stood near 1,000 BTC in January 2024 before collapsing further.
Historical comparisons showed even stronger participation during previous cycles. Retail inflows peaked near 5,400 BTC in 2018 and around 2,600 BTC in 2021.
Meanwhile, Darkfost said part of the retail market likely shifted toward spot Bitcoin ETFs instead of direct BTC ownership. He added that observable on-chain activity from smaller investors continues shrinking over time.
Exchange Outflows Increase
At the same time, Bitcoin exchange flows showed heavy withdrawals during May. The chart recorded several large negative netflow spikes between May 7 and May 15.
Notably, outflows exceeded negative $80 million several times and approached negative $100 million during the sharpest withdrawals. Those movements reflected aggressive transfers away from exchanges.
However, Bitcoin prices continued weakening despite the persistent outflows. BTC declined gradually from the $82,000 region toward roughly $76,500 by May 18.
Several positive inflow spikes also appeared around May 11 and May 14. Those inflows coincided with temporary rebounds toward the $81,000 and $82,000 range.
Key BTC Levels Come Into Focus
The chart now places immediate support between $76,000 and $77,000. Meanwhile, resistance formed near $78,500, followed by stronger pressure around $80,000 and $82,000.
Despite weaker prices, repeated exchange outflows suggested ongoing accumulation activity. However, short-term bearish momentum remained dominant as broader market volatility continued increasing.
