"Retail investors sell into Bitcoin (BTC) rebound, capping upside"
JH Kim
Summary
- On-chain data analytics firm Glassnode said Bitcoin (BTC) is seeing retail selling pressure during its rebound, limiting the sustainability of further gains.
- Glassnode said that as BTC rebounded to around $76,000, smaller-holder wallets shifted to selling.
- It added that because buying has not spread across wallets of varying sizes, upside momentum may be limited.
Forecast Trend Report by Period
An analysis suggests that Bitcoin (BTC) is facing retail selling pressure during its rebound, limiting the sustainability of further gains.
On the 30th (local time), on-chain data analytics firm Glassnode said, "As BTC rebounded to around $76,000, smaller-holder wallets shifted to selling."
It added, "With buying not spreading across wallets of varying sizes, upside momentum may be limited."
This trend suggests that despite the short-term rebound, broader market buying strength has yet to provide sufficient support.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
