Key takeaways:

Google search data and app rankings show retail Bitcoin investor demand near 6-month lows.

Retail investor interest typically peaks 1 week after BTC breaks all-time highs.

Bitcoin (BTC) retail traders are known for entering the market during periods of euphoria, typically after strong monthly gains or a new all-time high. This time is no different, with Bitcoin approaching $104,000 on May 14 while general public interest and retail activity continue to lag.

Analysts estimate that in 2025, retail investors were the largest net sellers of BTC, while institutions were the main buyers. But if historical patterns hold, a surge in retail appetite is likely to occur about one week after Bitcoin surpasses the $109,350 mark.

Source: X/River

According to River’s estimates, individual investors sold a total of 247,000 BTC throughout 2025, equivalent to $23 billion based on the average price during the period. Meanwhile, Michael Saylor’s Strategy accounted for 77% of the 157,000 BTC acquired by businesses that year.

Retail interest for Bitcoin nears 6-month lows

Current search trends for the term “Bitcoin” match levels last seen in June 2024, when BTC was trading around $66,000 after three months of failing to break above $73,000.

Search trends for Bitcoin. Source: Google

Likewise, the Coinbase app now ranks 15th in the US App Store within the finance category—comparable to its 20th-place ranking in June 2024, based on data from The Block.

Coinbase app ranking in US App Store – Finances. Source: TheBlock

If mobile app rankings and Google search trends for “Bitcoin” can serve as proxies for retail interest, demand last peaked on Nov. 15, 2024, when the Coinbase app jumped from the 40th to the 5th position in under two weeks. At the same time, search activity spiked to its highest level in over two years.

Bitcoin/USD performance in November 2024. Source: TradingView / Cointelegraph

The retail excitement coincided with Bitcoin breaking its previous all-time high of $73,757 on Nov. 6, 2024, with excitement peaking nine days later. Although retail traders missed most of the gains from the $67,000 level a month earlier, the bullish trend persisted as Bitcoin surged to $107,000 by mid-December 2024.

Related: Bitcoin bulls aim for new all-time highs by next week as capital inflows soar

Buying Bitcoin near an all-time high is a sub-optimal strategy

A comparable spike in retail demand occurred on March 9, 2024, when the Coinbase app rose to the fourth most downloaded in the US finance category, up from 35th place just two weeks earlier. At the same time, Google search interest for “Bitcoin” hit its highest level in 20 months, roughly six days after Bitcoin surpassed its prior record daily close of $68,000 from November 2021.

The retail interest jump in March 2024 followed a 56% price increase in just 30 days, with BTC climbing from $43,100 to $68,100. In contrast to the November 2024 breakout, the following seven months saw erratic price movements, with Bitcoin struggling to maintain levels above $70,000. Retail traders tend to react to previous all-time highs, but this often means they miss out on most of the upside.

The net outflows from retail investors while Bitcoin trades 5.5% below all-time high reinforce the “Bitcoin” search trends and Coinbase app rankings, supporting the idea that retail demand emerges roughly one week after a previous all-time high is surpassed.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Key Takeaways:

Dogecoin’s active addresses surged 528% to 469,477.

DOGE’s futures open interest rose 70% to $1.65 billion, indicating strong speculative interest.

On May 13, Dogecoin (DOGE) witnessed a staggering 528% increase in active addresses, soaring from 74,640 to 469,477, signaling robust network activity and growing investor interest. This surge followed an update to 21Shares’ filing for a spot Dogecoin ETF, receiving acknowledgement from the US Securities and Exchange Commission (SEC). The financial services firm confirmed the development on X on May 14.

Dogecoin active addresses. Source: Glassnode

The filing, which aims to track DOGE’s price, aligns with similar efforts by Bitwise and Grayscale, hinting at potential mainstream adoption. This news fueled market optimism, leading to a rise in the memecoin’s network activity. 

Adding to the momentum, Glassnode reported that DOGE futures open interest rose 70% over the past week, climbing from $989 million to $1.65 billion, despite a price pullback from recent highs. This decoupling of open interest and price suggests persistent speculative positioning, a trend Glassnode noted as “worth monitoring” for potential volatility.

Dogecoin futures open interest. Source: Glassnode

DOGE has also seen strong spot-buyer demand, and Cointelegraph reported that DOGE’s spot taker 90-day cumulative volume delta (CVD) is currently “taker buyer dominant,” reflecting more aggressive buying than selling since early March.

This pattern preceded a 385% rally to $0.48 in Q4 2024. Additionally, the long-term holder net unrealized profit/loss (NUPL) for DOGE holders (holding at least 155 days) recently surpassed 0.5, indicating an optimistic “belief” sentiment.

With the network’s activity booming, speculative interest rising, and spot buyers dominating, Dogecoin’s market dynamics are setting the stage for a potential price run to its range highs.

Related: Price predictions 5/14: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX

Dogecoin price targets $0.40

Crypto analyst Trader Tardigrade noted that DOGE has hit a key resistance level around $0.24, with a brief consolidation expected over the next few days. A breakout above this resistance could propel DOGE to $0.40, signaling healthy upward momentum. 

Dogecoin analysis by Trader Tardigrade. Source: X.com

Meanwhile, Dogecoin proponent Kriss Pax highlighted an inverse head-and-shoulders pattern on the 1-day chart, suggesting a potential surge to $0.42 with the pattern reflecting a bullish breakout. The trader said, 

“Stuck between $0.22 and $0.25. Opportunities for buying dips will come. Some will swing trade. But when $DOGE decides to take off, you will want to be on board.”

Related: Bitcoin bulls aim for new all-time highs by next week as capital inflows soar

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The Ethereum Foundation has launched a security initiative aimed at supporting the broader adoption of onchain technologies, according to a May 14 announcement. The effort is part of an ongoing push to strengthen Ethereum’s role in programmable digital assets.

Fredrik Svantes, a protocol security research lead, and Josh Stark from the Ethereum Foundation management team will be the initial co-chairs of the initiative. Three contributors to the Ethereum ecosystem — samczsun, Medhi Zerouali, and Zach Obront — will help guide the project.

Called the Trillion Dollar Security Initiative, the effort seeks to analyze, improve, and communicate to Ethereum developers areas where security can be improved, including user experience, wallet security, smart contract security and infrastructure.

According to DefiLlama, Ethereum still is the leading ecosystem for decentralized finance (DeFi), having held between 50-60% of the total value locked across all blockchains since May 2022. The network’s TVL stands at nearly $80 billion as of May 14.

Blockchains by total-value-locked. Source: DefiLlama

“Achieving Trillion Dollar Security is only possible with the support of the broad Ethereum ecosystem,” the Foundation said in a statement. “Billions of individuals are each comfortable storing more than $1,000 onchain, collectively amounting to trillions of dollars secured on Ethereum,” it added.

Related: Vitalik Buterin outlines vision as Ethereum ecosystem addresses hit new high

Ethereum rebounds with Pectra upgrade

Ethereum’s struggles during this bull market have been well-documented. It has suffered from low traffic and a lack of attention-grabbing use cases, and its layer-2 chains that make Ethereum faster have been plagued by bad UX. But then came the Pectra upgrade.

Pectra, Ethereum’s most significant upgrade since The Merge, has delivered three key improvements, including external accounts as smart contracts, increased staking limits and data blobs per block.

Ethereum’s native token (ETH) price has risen significantly since the upgrade, jumping over 43% since May 7.

Magazine: Comeback 2025 — Is Ethereum poised to catch up with Bitcoin and Solana?