The Bitcoin market capitalization (BTC) has reached a new Summit of $ 872 billion, but Glassnod data reflect the lack of enthusiasm of investors at the current BTC price levels.
In a recent post X, the analysis platform stressed that despite the milestone of the ceiling carried out, the monthly metric growth rate fell to 0.9% of months in months, which involved a feeling of risk on the market.
The ceiling carried out measures the total value of all bitcoins at the price they have moved last time, reflecting the real capital invested, providing an overview of Bitcoin’s economic activity. A slowdown in the growth rate highlights an influx of positive but reduced capital, suggesting fewer investors or less activities from current holders.
In addition, the table of profits and losses made of Glassnode recently showed a sharp drop of 40%, which signals a profit or a realization of high losses. The data platform has explained,
“This suggests saturation in the activity of investors and often precedes a consolidation phase because the market is looking for a new balance.”
While new investors have gone away, existing investors probably adopt a cautious approach due to the price made of the short -term holder. Cryptors’ data suggested that the current short -term price is $ 91,600. The BTC is currently consolidating below the threshold, this implies that short -term holders are underwater, which can increase the sales pressure if they sell to reduce their losses.
Likewise, the market value of the short -term Bitcoin holder to the value achieved has remained below 1, a level historically associated with purchasing opportunities and additional proof that short -term holders are at a loss.
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Bitcoin couchs between us and Korean traders
The data shows a divergence of feeling between Bitcoin traders in the United States and Korea. The Coinbase bonus, reflecting American trading, has recently increased, reporting strong American demand and potential bitcoin price gains.
Conversely, the Kimchi Premium index fell during the correction, indicating the commitment of retail sales among trains among the traders based in Korea.
This particular unequal demand is reflected in the recent action of Bitcoin prices. The graph shows that the Bitcoin price has oscillated between a tight range of $ 85,440 and $ 82,750 since April 11. On the 4 -hour table, BTC has kept the support of the average of 50 days, 100 days and 200 days, but on the graph at 1 day, these indicators constitute resistance to the flagrant structure.
Related: Bitcoin Online Chatter returns Haussier like price cuts at $ 85,000: Santiment
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
