Part 6/10:
A key observation is that retail interest, as measured by social engagement and activity, remains subdued compared to previous peaks in 2017 and 2021. During those periods, a surge of retail investors drove alt seasons and massive price rallies.
However, in 2025, despite Bitcoin's price drops, social interest remains muted, indicating that new retail participation hasn't returned. This aligns closely with 2019, when Bitcoin peaked on sentiment of apathy, and prices declined thereafter. The takeaway is that a lack of retail enthusiasm suppresses altseason potential and extends the bear market.