Glassnode: Bitcoin Maintains Strong Uptrend, Ethereum Faces Resistance in Recovery
According to the latest data from Glassnode, first-time buyers and momentum buyers in the Bitcoin market continue to show strong participation, while profit-taking activities remain moderate. This supply-demand structure supports the sustainability of the recent Bitcoin rally. Meanwhile, Ethereum has experienced a significant increase in first-time buyers for the first time since February, with momentum buyers also rising in the past 7 days. However, profit-takers have become more active, explaining the recent stagnation in Ethereum's price recovery. Market analysts point out that, despite large whale wallets actively accumulating cryptocurrency, overall market demand has cooled down. The inflow of new ETF funds is leveling off, and stablecoin inflows have not reached the previous levels seen during market surges, indicating that new capital is being cautious or is in a wait-and-see mode.
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
Dan Ives reveals top tech stock picks for 2027! Nvidia, Microsoft, Apple, and three other stocks make the list, Tesla selected as “disruptive tech top pick”
Former Wedbush tech analyst Dan Ives released his top picks for the technology sector in 2027 on Wednesday, listing Nvidia, Microsoft, Palantir, Apple, and CrowdStrike as his five top technology choices.
US Midterm Elections Become a "Touchstone" for Defense Stocks: Trillion-Dollar Defense Budget Expansion Faces Congress Test
The U.S. midterm elections are becoming a crucial test of investors' sentiment towards the rapidly growing defense sector.
Samsung Electronics Q3 Profit Hits Another Record but Falls Slightly Short of Expectations; AI Memory Boom Drives Growth, Yet High Stock Prices and Cyclical Concerns Persist
Preliminary data released by Samsung Electronics on Thursday showed that its operating profit for the third quarter ending in September amounted to approximately KRW 107.4 trillion (about USD 80.1 billions), more than eight times higher than the same period last year, setting a new record mainly driven by demand for high-bandwidth memory (HBM).
Crypto prices
More
