Bitcoin Supply Dynamics Show Strong First-Time Buyer Participation Amid Stabilizing Market Trends

COINOTAG reported on April 28th that a recent analysis from Glassnode sheds light on the current Bitcoin supply dynamics. The data reveals that both first-time buyers and long-term holders are actively engaging in the market, signaling a robust interest from new participants. Notably, the volume of profit takers remains relatively low, which bolsters the sustainability of the recent upward trend in Bitcoin prices. In parallel, Ethereum activity shows promising signs, with a marked increase in first-time buyers—the highest surge since February. Additionally, over the last week, engagement from momentum buyers has also seen an uptick. However, it’s essential to note that while enthusiasm grows, the rise in profit-taker activity may explain the recent deceleration in ETH‘s price recovery, meriting close observation as market dynamics evolve.