Summary
- On-chain analytics firm Glassnode stated that Bitcoin (BTC) is maintaining demand without significant selling pressure.
- Ethereum (ETH) is also showing active market participation with an increase in the number of buying addresses.
- BTC is trading at $93,690.27, down 0.25% on the Binance platform.
On the 28th (local time), on-chain analytics firm Glassnode stated on X (formerly Twitter) that "addresses newly purchasing Bitcoin (BTC) and those buying according to trends continue to participate in the market, and the activity of addresses in profit is also being maintained."
They further analyzed, "This means that the demand supporting the recent rally is continuing without significant selling pressure."
Additionally, they added, "Ethereum (ETH) has also shown a significant upward trend in the number of addresses buying according to trends over the past 7 days since February," and "However, in the case of ETH, the active market participation of addresses in profit may be related to the recent price sideways movement."
Meanwhile, BTC is trading at $93,690.27, down 0.25% from the previous day, based on the Binance Tether (USDT) market as of 00:56 on the 29th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
!["No U.S. government backstop" shock…Bitcoin retreats to the $60,000 level; Ethereum also rattled [Lee Su-hyun’s Coin Radar]](https://media.bloomingbit.io/PROD/news/a68e1192-3206-4568-a111-6bed63eb83ab.webp?w=250)