In the world of cryptos, where the only thing more volatile than the price is the news cycle, the latest Bitcoin rally is being hailed as a testament to the “enduring strength” of the king of digital currencies. This, according to Glassnode, a crypto analytics firm that has, once again, earned its seat at the table with their latest observations.
According to Glassnode, the rally isn’t just a flash in the pan. Oh no. They suggest that “first buyers” and “momentum buyers” are holding their ground with impressive engagement. Meanwhile, profit takers, those pesky individuals hoping to cash in on the fleeting rise, are showing “only a moderate level of activity.”
“This is promising,” Glassnode observes, “as it hints at sustained demand from newcomers and trend-chasing enthusiasts, without the ‘dumping the bags’ behavior that could bring the whole thing crashing down.” So, it’s like a party where people are buying drinks, but no one’s trying to leave early. Lovely.
But wait, there’s more! Glassnode points out a jaw-dropping fact—US-based spot Bitcoin exchange-traded funds (ETFs) recorded a net inflow of a whopping 31,323 BTC last week. Do the math: that’s about $2.9 billion. Oh, and by the way, this marks the fifth-largest weekly BTC inflow ever, and the third-largest in dollar terms. Pretty impressive, eh?
“This isn’t just some retail fever,” Glassnode continues. “Even with Bitcoin at sky-high prices, institutional investors are diving in headfirst.” They’re not fooling around, folks. Institutional engagement is back in a big way. Fancy that.
As of this moment, Bitcoin is trading at $95,370. Yes, you read that right. And in case you’re wondering, the top dog of crypto has managed to squeak out a modest 1.5% rise in the last 24 hours. So, don’t panic just yet—everything’s fine (for now).
But what about Ethereum, the runner-up in this wild race? Glassnode mentions that Ethereum is seeing its “first meaningful uptick” in “first buyers” since February. Hallelujah! But before you pop the champagne, they warn that the “Profit Takers” are also making their presence known, offering some context for why ETH has stalled recently. Looks like the ETH party’s a little more hit or miss.
Currently, ETH is sitting at $1,827 and is up over 3% in the last 24 hours. So, while Bitcoin is leading the charge, Ethereum is holding its own—just barely. But don’t worry, the crypto world is always full of surprises. Grab your popcorn, folks.
Read More
- Invincible’s Strongest Female Characters
- Top 8 Weapon Enchantments in Oblivion Remastered, Ranked
- MHA’s Back: Horikoshi Drops New Chapter in ‘Ultra Age’ Fanbook – See What’s Inside!
- Nine Sols: 6 Best Jin Farming Methods
- Fix Oblivion Remastered Crashing & GPU Fatal Errors with These Simple Tricks!
- Top 8 UFC 5 Perks Every Fighter Should Use
- How to Reach 80,000M in Dead Rails
- Gold Rate Forecast
- USD ILS PREDICTION
- Master Conjuration Spells in Oblivion Remastered: Your Ultimate Guide
2025-04-30 23:07