Bitcoin Market Cap Surpasses $2 Trillion as FOMO Drives Prices to $100,000 – What’s Next?

On May 13th, COINOTAG reported that Bitcoin’s market capitalization has exceeded $2 trillion for the first time since the end of January. The cryptocurrency has reached a notable price point of $100,000, driven by surging interest among retail investors. According to comprehensive analysis from Glassnode, the First-Time Buyer RSI index has remained consistent at 100 over the past week, reflecting heightened retail FOMO (Fear of Missing Out) activity. In contrast, the buyer RSI for trend traders stands significantly lower at merely 11, which indicates an emerging trend of profit-taking that could impact market dynamics. Market analysts are closely watching the U.S. inflation data slated for release on Tuesday evening, as it may act as a pivotal force in determining whether Bitcoin can sustain its upward trajectory and potentially breach previous highs.