There's no way to know for sure. One thing we know is that the USD exchange volume for the last 30 days was about $295 billion [0] (or almost 100% of the marke

There's no way to know for sure. One thing we know is that the USD exchange volume for the last 30 days was about $295 billion [0] (or almost 100% of the market cap). However, a lot of this volume is due to the same group of traders circulating the same coins back and forth. Ultimately and as other commenters pointed out, it doesn't really matter. It is possible that people who bought BTC with "hard earned cash" are statistically more unwilling to sell at a loss but that's about how much you could infer from that statistic in my opinion. [0] https://coinmarketcap.com/currencies/volume/monthly/ https://coinmarketcap.com/currencies/volume/monthly/