Glassnode: Bitcoin Hot Capital Surges, Short-Term Holders Return to the Market
According to Cointelegraph, as Bitcoin prices rise, there is an influx of 'speculative capital' into the market, with recently moved supply segments increasing. Short-term holders are becoming active again, and hot capital has doubled in five weeks.
Glassnode reported on April 29 that Bitcoin's 'hot capital' surged. New investors are entering the market, with BTC prices nearing multi-month highs. In the past week, hot capital increased by over 90%, approaching $40 billion.
Glassnode noted that hot capital has increased by $21.5 billion from the low of $17.5 billion on March 23, reflecting a significant change in market sentiment. Despite prices nearing $95,000 and short-term holders profiting, a full bull market has not yet arrived.
$BTC Don't be afraid, brother. The dog fund will take action before the market closes. A day without exceeding a 2% drop is just a technical correction by the dog fund. After a week of sideways movement, it will continue to take off.
In fact, do not dismiss the technical aspects; today there are conflicts in the metaphysical side. The price of Bitcoin has dropped quite a bit. However, Ethereum has benefited from favorable conditions and has reached a new high. I can find clues by comparing the technical analysis with the theory.
$BTC B wave is a rebound wave that appears after the stock market has experienced a significant rise (the front main rising wave of a cycle, waves 1-5), followed by a decline of wave A. The performance of wave B is often characterized by low trading volume. Generally speaking, it is a pullback in the transition from a bull market to a bear market, serving as the last escape line for bulls in a bull market. However, because it is part of an upward trend, it can easily mislead investors into thinking it is another wave of rising momentum, forming a "bull trap," causing many individuals to be caught in losses during this period.