Swan Bitcoin CEO: Retail sentiment still drives Bitcoin demand

Swan Bitcoin CEO: Retail Sentiment Still Drives Bitcoin Demand

Swan Bitcoin CEO Cory Klippsten argues that despite the rise of institutional investors in crypto, retail sentiment remains just as important. In an interview with Cointelegraph at BitcoinVegas 2026, Klippsten stressed that most Bitcoin purchases through ETFs are ultimately made by retail accounts. He said: “You have to remember it’s not like BlackRock owns the Bitcoin and Fidelity owns the Bitcoin. It’s a bunch of retail accounts mostly that actually buy that.”

Klippsten added that even when institutions or funds buy Bitcoin via a wrapper like an ETF, the demand is still real. “They still have to take real supply and custody it. And it comes out of the supply. So, you know, it’s still real demand in 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

Bitcoin’s price has fallen roughly 9.5% over the same period. At the time of writing, Bitcoin trades at around $73,630, down 2.87% over the past 30 days, per CoinMarketCap. The broader crypto market sentiment has been shaky throughout 2026. The Crypto Fear & Greed Index registered an “Extreme Fear” score of 23 on Friday, suggesting investors are turning cautious.

Slim Chances for a New All-Time High in 2026

Klippsten also shared a sobering outlook for Bitcoin’s price this year. He said he previously thought there was about a 50% chance of a new all-time high when Bitcoin was trading near $95,000 earlier this year. But after a roughly 23% decline since then, he has lowered his odds. “I’d probably handicap that down to like 20 or 25% chance that we get a new high,” he said. The Bitcoin price has dipped as low as the $60,000 range recently, which has dampened near-term optimism.

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