Most crypto investors are the usual people who invested in it earlier, almost no "new" money flows in yet

Cryptomarket currently has a ~$1.3T marketcap, in the peak of the the bullrun 2021 is was around $4T marketcap.

Some people took profits, sold and/or spend the money elsewhere, so the overall crypto mcap dropped to $1.3T.

I best guess is that this money will come back in the next bullrun.

People who believes in crypto kept investing/ DCAing into it, which I doesn't see as "new" money flowing into crypto, because it's mainly money people could have HODLed instead.

The Mcap only really grows, if more new people start investing in it. This would be new money coming into the space.

How does crypto attract new people?

Through fundamentals, ideology and in search for inflation hedge?

Sadly, no! New people will come into this space through big expectation of profits.

So at the end, new ATHs are what make people FOMO and enter this space. When common social media and TV start to talk about crypto again, especially when it reaches even new all time highs.