<p><img src="https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTEvMDE5MzZjYzItNjRlNS03OTU1LWEzYTMtMzRhNTE0YjkyNDQw.jpg" alt="Bitcoin retail investor demand is not gone; they’re piling into the spot BTC ETFs"></p><p>Onchain data shows that retail investors are not buying Bitcoin, but analysts say they’ve shifted into buying the spot ETFs.</p>