Where is the momentum for 100k+ supposed to come from?

Since May, retail has been essentially out of the market, liquidated into oblivion. The price of Bitcoin is now essentially determined by day trading hedge funds and CEXs liquidating their own customers, with the price of many alts and small caps determined by a smattering of diehard retail and momentum/arb bots… That's it.

That's why were keep washing around the same range, day after day, week after week, month after month. The money needed to break out of the grip of day traders chasing leverage is not here and I don't understand where it is supposed to come from in the near future? There are no more stimulus cheques and a lot of the people who got in then, see crypto as a defunct casino and aren't interested in playing anymore.

Any ideas?