Bitcoin's market dynamics have shifted significantly towards institutional dominance, according to CryptoQuant analyst Axel Adler Jr. Retail trading volume, defined as transactions between $0-1000, has decreased from 1.8% in 2021 to 0.48% currently, highlighting the growing influence of large institutions. As of October 2025, retail trading volume averages $108 million per day, down from historical peaks of $150 million to $132 million, suggesting a reduction in speculative activity by smaller investors. The number of daily transactions in the $0-1000 range remains at 700,000, aligning with historical averages, but the average transaction size has decreased, indicating a more conservative retail market. Over the past four years, retail trading volume has dropped nearly fourfold, underscoring the shift in market control to institutions and a reduced impact of smaller speculators. This trend marks a new era for Bitcoin, where retail investors adopt more balanced accumulation strategies in a mature, institutionalized market.