On May 13, COINOTAG reported that the market capitalization of Bitcoin (BTC) has surpassed $2 trillion for the first time since the end of January. Driven by a surge in interest from retail investors, the price of this cryptocurrency has reached the significant threshold of $100,000. According to comprehensive analysis by Glassnode, the RSI index for first-time buyers has remained at 100 over the past week, reflecting an increase in retail FOMO (fear of missing out) activity. In contrast, the buyer RSI for trend traders is significantly lower at just 11, indicating that a profit-taking trend is emerging, which may affect market dynamics. Market analysts are closely monitoring the U.S. inflation data scheduled to be released on Tuesday evening, as it may be a key factor in determining whether Bitcoin can maintain its upward trajectory and potentially break through previous highs.
