Despite the current downward trend in Bitcoin's price, retail on-chain accounts are demonstrating a growing interest in purchasing the cryptocurrency at its present value. This metric has seen a 7% increase over the past few weeks, indicating a positive sign for potential price movements. According to macro analyst Axel Adler, accounts with up to $10,000 are driving this growth in interest, suggesting that retail investors are eager to buy Bitcoin even as its price decreases.

Adler notes that while it is too early to predict a full recovery, the increased interest from retail investors is a promising indicator. His analysis, based on CryptoQuant's data, reveals that the dynamics of retail accounts' interest may be correlated with potential price movements. Historically, the peak of retail demand coincided with Bitcoin's all-time high in mid-Q1 2024. Adler believes that crypto whales are interested in reinvesting their gains, and retail players will contribute to the market's recovery.

Seasoned analyst Willy Woo shares a similar sentiment, predicting that Bitcoin's price run is yet to come. Woo's analysis of hashrate dynamics suggests that the capitulation of inefficient miners is imminent. As the market matures and Bitcoin's net hashrate increases, the capitulation of miners has taken longer than expected. However, Woo believes that the end of this process will signal the next phase of the Bitcoin rally.

The increased interest from retail investors and the anticipated capitulation of miners may indicate a potential turnaround in Bitcoin's price. As major players have the cash reserves to reinvest, the market is likely to recover regardless of circumstances. While Bitcoin's price has dropped below $65,000, reaching mid-May levels, analysts remain optimistic about its future performance.

In conclusion, the growing interest from retail investors and the anticipated capitulation of miners suggest that Bitcoin's price run is far from over. As the market continues to mature and major players reinvest their gains, the potential for a significant price movement remains. Despite current price fluctuations, analysts believe that Bitcoin's rally will return, driven by retail investors and crypto whales alike.