Analyst: Retail Demand Near 2-Year High, BTC Rally Weak but Chasing Sentiment Strong

The tension here is between improving retail participation and a rally that isn't confirming it — demand metrics and price action are telling different stories. That divergence matters because retail flow is typically the momentum chaser, not the early signal, so its arrival near highs can mark either broadening conviction or late-stage enthusiasm. Whether price eventually catches up to sentiment, or sentiment cools toward price, is the open question to watch.