“While First-Time Buyers Show Strong Interest, Momentum Buyers Remain Weak, Suggesting Potential Price Consolidation.”, – WRITE: www.coindesk.com
BTC’s Price Tople $ 100,000 Last Thursday, Lifting It Market Capitalization Above $ 2 Trillion For The First Time Since Jan. 31, accounting to Data Source Tradingview. Since Then, The Ship Has Steadied Above the $ 2 Trillion Mark, with Analysts Calling for Record Highs on the Back of An Impening US Inflation Data Later Tuesday.
IT’s Common for New Investors to Join The Market in Such Bullish Conditions, and They Doing So in Large Numbers, Hinting at Retail Fomo, A Crypto Slang For “Fear of Missing Oh. Fomo Happens WHEN INVESTORS Feel Compelled to Buy Coins Because they See Others Making Gains or Fear That Prices Will Rise Signified. IT CAUSES INVESTORS TO MAKE IMPULSIVE PURCHASES DRIVEN by imotions ratioer than Careful Study.
“BTC SUPPLY MAPPING SHOWS SUSTAINED STREEGTH IN NEW DEMAND. FIRST-TIME BUYERS RSI HAS HELD AT 100 ALL WEEK,” Glassnode Said On X.
BTC: RSI of Cumulative Supply per Cohort. (Glassnode)
Glassnode’s Suppply-Mapping Tool Represents Granular Segmentation of Different Investor Cohorts Based on Their Behavioral Patterns.
FIRST TIMERS ARE DEFINED AS WALLETS ENGAGING WITH THE TOKEN FOR The FIRST TIME. The 30-Day Relative Strength Index of the First-Time Buyers Holding at 100 Through The Week Indicates Strong Buying Interest From these Participants.
However, The Activity of Other Investor Cohorts Isn’t As Encouroging, Raising The Possibility of A BTC Price Consolidation or PullBack.
Per Glassnode, Demand from Momentum Buyers Remains Weak, with The 30-Day RSI at 11. Momentum Traders Capitalize on an Establized Uptrend or Downntrend, Betting it.
“Momentum Buyers Remain Weak (RSI ~ 11), and Profit Takers Are Rising. If Fresh Inflows Slow, Lack of Follow-Thugh Could Lead to Consolidation,” Glassnode Nod.
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