TechFlow, April 28 — Glassnode's latest data shows that first-time buyers and momentum buyers in the Bitcoin market continue to maintain strong participation, while profit-taking activity remains at moderate levels. This supply-demand structure supports the sustainability of Bitcoin's recent rebound.
Meanwhile, Ethereum has seen a significant increase in first-time buyers for the first time since February, with momentum buyer activity also rising over the past seven days. However, profit-takers have simultaneously become more active, explaining why Ethereum's price recovery has recently stalled.
Market analysts note that although large whale wallets are actively accumulating cryptocurrencies, overall market demand has cooled. New inflows into ETFs have flattened, and stablecoin inflows have failed to reach previous rally levels, suggesting new capital is adopting a cautious or wait-and-see stance.
