Glassnode Analyzes Bitcoin Investor Behavior and Its Impact on Price Trends
Glassnode has analyzed Bitcoin investor behavior, showing its impact on price trends. They categorize investors into five groups based on on-chain spending patterns:
- Conviction Buyers
- First Buyers
- Momentum Buyers
- Loss Sellers
- Profit Takers
The metric excludes exchanges and smart contracts, focusing solely on investor behavior. Key findings include:
- Conviction Buyers tend to buy during price declines, stabilizing pullbacks.
- Their supply peaks at bear market lows, influencing price recovery.
- First Buyers' demand surged during the recent bull market, contributing to Bitcoin's rise above $100,000.
- A recent downturn saw a decline in First Buyers, but new capital inflows have returned, supporting a rally towards an all-time high.
As of now, Bitcoin trades at approximately $109,800, reflecting a 4% increase over the past week.
