The latest data from Glassnode shows that first-time and momentum buyers in the bitcoin market continue to maintain strong participation, and profit-taking activity remains moderate. This supply and demand structure supports the durability of the recent bitcoin rally.
At the same time, Ethereum has seen a significant increase in first buyers for the first time since February, and momentum buyer activity has also picked up over the past seven days. However, profit-taking synchrony has become more active, which explains why the Ethereum price recovery has stalled recently.
Market analysts pointed out that while large whale wallets are actively hoarding cryptocurrencies, overall market demand has cooled, new ETF inflows have leveled off, and stablecoin inflows have not reached the levels seen in previous rallies, suggesting that new capital is cautious or sitting on the sidelines.
Glassnode: Bitcoin continues to rise strongly, Ethereum recovery faces resistance
2025-04-28 15:22:45
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