Swan Bitcoin CEO: Retail Sentiment Still Driving Bitcoin Demand
Swan Bitcoin CEO Cory Klippsten says that despite the rise of institutional investors in crypto, retail sentiment remains just as important. In an interview with Cointelegraph at BitcoinVegas 2026, Klippsten pointed out that most Bitcoin purchases through ETFs are ultimately made by retail accounts. He said: “You have to remember it’s not like BlackRock owns Bitcoin and Fidelity owns Bitcoin. It’s primarily a bunch of retail accounts buying this.”
Klippsten added that even when institutions or funds buy Bitcoin through a wrapper like an ETF, the demand is still real. “They still have to take real supply and keep it there. And that comes from supply. So, you know, it’s still real demand for ETFs,” he explained. His comments come at a time when US spot Bitcoin ETFs have seen combined net outflows of $2.90 billion since mid-May, according to Farside data.
Bitcoin Price Struggles and Market Sentiment
The price of Bitcoin fell approximately 9.5% during the same period. At the time of writing, Bitcoin is trading at around $73,630, down 2.87% over the past 30 days, according to CoinMarketCap. Broader crypto market sentiment has been fragile throughout 2026. The Crypto Fear & Greed Index recorded an “extreme fear” score of 23 on Friday, suggesting investors are becoming cautious.
Low chances of hitting new all-time high in 2026
Klippsten also shared a sobering outlook on the price of Bitcoin this year. He said he previously thought there was about a 50% chance of hitting a new all-time high when Bitcoin was trading near $95,000 earlier this year. But after a decline of about 23% since then, he has narrowed his chances. “I would probably limit that to a 20 or 25 percent chance that we get a new high,” he said. Bitcoin price recently fell as low as $60,000, dampening short-term optimism.
