Haseeb Qureshi, a partner at Dragonfly, has highlighted a significant shift in the cryptocurrency market dynamics, noting that retail investors have largely exited, leaving institutions to form a price floor for Bitcoin. Qureshi emphasized that Bitcoin is increasingly perceived as a mature asset with long-term growth potential, while altcoins need compelling narratives to attract retail interest again. Qureshi also pointed out that the core of the crypto industry remains focused on financial applications, with strong user retention in decentralized finance (DeFi), stablecoins, exchanges, and real-world assets (RWA). He suggested that as artificial intelligence technology advances, intelligent agents could play intermediary roles in trading, potentially boosting adoption among users with lower risk preferences.