"Investors Bought Bitcoin over the Past 15 Days…Indicates 'Dip-Buying' Behavior"
JOON HYOUNG LEE
Summary
- On-chain analytics firm Glassnode stated that Bitcoin buying pressure was stronger than selling pressure in the past 2 weeks.
- Both large investors and small investors have, on average, bought Bitcoin over the past 15 days.
- Glassnode highlighted that this data is a delayed indicator based on the 15-day average.
In the past two weeks, it has been found that Bitcoin (BTC) buying pressure was stronger than selling pressure.
On-chain analytics firm Glassnode announced on June 6 (local time) via its official X (formerly Twitter) account, "Both large investors holding more than 10,000 Bitcoin and small investors holding less than 1 Bitcoin have, on average, bought Bitcoin over the past 15 days." Glassnode added, "This suggests that early 'dip-buying' has taken place in the recent correction market."
Glassnode further noted, "However, this data is an indicator averaged over 15 days, so it is a delayed signal," and "It does not fully reflect investor actions in real time."
JOON HYOUNG LEE
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