On May 13, the price of Bitcoin broke the $100,000 mark, with a total market capitalization exceeding $2 trillion, setting a new historical high.
According to Glassnode's on-chain data, the RSI index for first-time buyers has remained at 100 for a week, indicating strong FOMO (fear of missing out) among retail investors. However, the buyer RSI for trend traders is only 11, suggesting some profit-taking pressure in the market.
Analysts point out that the U.S. inflation data set to be released tonight could serve as a catalyst for further market gains.
🔍 Market Sentiment Analysis
Retail enthusiasm is high: the RSI index for first-time buyers remains elevated, indicating strong sentiment among new market entrants.
Trend traders are cautious: the RSI index for trend traders is low, which may indicate a wait-and-see attitude at the current price levels.
Macroeconomic Impact: The upcoming U.S. inflation data could have a significant impact on the market, and investors should pay close attention.
💬 Community Discussion
Is this the peak of the bull market or the beginning of a new rally?
Is the current market sentiment overly optimistic?
Are you considering taking profits at the current price level, or will you continue to hold?
Everyone is welcome to share their views and strategies in the comments section to jointly discuss the future direction of the market.
