Richard Green, Director of Institutional and Ecosystem Development at Rootstock Labs, has highlighted a shift in Bitcoin DeFi projects towards targeting specific user groups amid declining liquidity. The total value locked in DeFi has dropped from $180 billion last October to $70 billion. Green noted that Rootstock is now concentrating on Bitcoin reserve companies, miners, and long-term holders, focusing on Bitcoin lending and yield products. Despite the closure of Botanix, Green asserts that demand for Bitcoin DeFi persists among a small, well-funded group, including miners seeking Bitcoin-backed loans and institutional investors interested in tokenized fund strategies. As ETFs become the main entry point for new Bitcoin investors, Bitcoin DeFi projects must enhance user education and engagement, transitioning from passive holding to active on-chain deployments.