Glassnode: First-time BTC Buyers are Surging, While Long-term Holders Have Stopped Accumulating
April 17 news, Glassnode analyzed on the X platform last night that on April 14, there was a divergence in the behavior of different investor groups regarding Bitcoin: the 30-day relative strength index (RSI) of first-time buyers rose to 97.9, indicating a surge of new demand; steadfast buyers saw their RSI drop to 3.2, suggesting they have almost completely stopped accumulating. Such behavioral divergence often indicates that a local top is imminent.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Fed Minutes Lean Hawkish as Powell’s Speech Set to Reveal Rate Cut Outlook
Fed Mouthpiece: July Meeting Shows Overall Hawkish Sentiment, More Officials Open to September Rate Cut
Analysis: A Few Officials Hint They May Join the Rate-Cut Camp in September
Fed Meeting Minutes Show Broad Support for Decision to Hold Rates Steady
Trending news
MoreCrypto prices
More
