Summary
- Glassnode reported that over the past two weeks, new Bitcoin buyers have purchased as many as 140,000 Bitcoins.
- Glassnode stated that the influx of new capital is supporting the upward trend in Bitcoin prices.
- Santiment noted that the FOMO phenomenon is spreading from Bitcoin to Ethereum and other altcoins.
In the past two weeks, new Bitcoin (BTC) buyers have purchased as many as 140,000 bitcoins.
According to the on-chain analytics firm Glassnode on the 17th (local time), bitcoins held by investors who purchased Bitcoin for the first time increased from 4.77 million to 4.91 million over the past two weeks, a rise of 140,000 (2.86%). Glassnode explained, "Continuous inflows of new capital are supporting the recent upward trend in (Bitcoin) prices."
The surge in new Bitcoin buyers is interpreted as being caused by the recent record-breaking highs in Bitcoin prices, which triggered investors' 'FOMO (Fear of Missing Out)'. On-chain analytics firm Santiment stated, "Bitcoin reached an all-time high on the 14th, sending public FOMO to its peak," and added, "Currently, FOMO is shifting to Ethereum (ETH), causing the price targets of various altcoins to soar."
JOON HYOUNG LEE
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