New investors are entering the market as BTC price action circles its highest levels in several months.
The sum of coins which last moved up to a week ago has reached its largest figure since early February.
In the past week alone, hot capital has shot up by over 90% to near $40 billion. Since local lows in late March, hot capital has increased by $21.5 billion, a “surge in capital turnover” which underscores a sea change in market sentiment.
“BTC hot capital bottomed at $17.5B on 23 Mar - its lowest level since Dec, according to Glassnode.
In just 5 weeks, it has added over $21.5B, suggesting a rapid shift from dormancy to speculation among newer market entrants.
Investors have recently returned to aggregate profit as price hovers near $95,000.
