May 13, 2025
4 0
Bitcoin Surpasses $2 Trillion Market Cap as New Buyers Enter Market
Bitcoin's market capitalization has surpassed $2 trillion following its price reaching over $100,000. This milestone, noted by TradingView, marks the first time since January 31.
Key points:
- New buyers are entering the market significantly, indicating retail FOMO.
- Glassnode reports sustained demand from first-time buyers with a 30-day RSI holding at 100.
- Momentum buyers show weakness, with a 30-day RSI at 11.
- Profit-taking is increasing among existing investors, raising concerns about potential price consolidation or pullback.
Glassnode's data suggests that while new participants are active, overall momentum in buying may be insufficient to sustain price increases.