The market capitalization of $ 2 billion of Bitcoin (BTC) has attracted a wave of new buyers to the market, while experienced merchants become cautious, according to the analysis of the data in the Glassnode chain.
The BTC price exceeded $ 100,000 last Thursday, raising its market capitalization above $ 2 billion for the first time since January 31, according to Data Source TradingView. Since then, the ship has stabilized above the $ 2 billion brand, with analysts who ask for maximum records in the back of an imminent inflation data of the United States later on Tuesday.
It is common for new investors to join the market in such bullish conditions, and are doing it in large quantities, insinuating the fomo retail trade, a cryptographic jargon for “fear of getting lost.” Fomo occurs when investors feel forced to buy currencies because they see that others get profits or fear that prices will increase significantly without them. Makes investors make impulsive purchases promoted by emotions instead of a careful study.
“The BTC supplies mapping shows a sustained force in a new demand. RSI first -time buyers have remained at 100 throughout the week,” Glassnode said in X.
The Glassnode supplies mapping tool represents the granular segmentation of different investor cohorts depending on their behavior patterns.
The first timers are defined as wallets related to the Token for the first time. The 30 -day relative force index of buyers for the first time that they have 100 during the week indicates a strong purchase interest of these participants.
However, the activity of other investor cohorts is not so encouraging, which increases the possibility of consolidation or decline of BTC prices.
According to Glassnode, the demand for impulse buyers is still weak, with the 30 -day RSI at 11. Impulse merchants capitalize a bullish trend or established bearish trend, betting on it will continue.
“Impulse buyers are still weak (RSI ~ 11), and earnings are increasing. If fresh tickets slow down, lack of follow -up could lead to consolidation,” said Glassnode.
