Bitcoin New Investor Dominance Rises to 30% Amid Steady Prices
Bitcoin (BTC) is currently consolidating below $120,000, with new investor dominance rising to 30%. On-chain data indicates BTC is not yet overheated, suggesting potential for further gains before a significant correction occurs.
Key Points
- New investor dominance at 30%, halfway to the historical overheating threshold of 60-70%.
- Past instances of high new investor dominance (64% in March 2024 and 72% in December 2024) led to local price tops and pullbacks.
- Long-term holders are taking profits as liquidity from new investors decreases.
- The current supply/demand structure shows a balanced market with low capitulation risk from veteran wallets.
- Indicators suggest Bitcoin may still grow, but there is evidence of waning momentum, including a decline in the Coinbase Premium Gap.
- BTC trades at $118,371, up 0.6% in the last 24 hours, amid positive macroeconomic factors that could drive prices higher.
