Bitcoin Investor Activity Hints at Potential Local Peak

A recent analysis by Glassnode on X reveals potential signs of a local market peak for Bitcoin. According to PANews, the firm observed a divergence in investor behavior on April 14th. First-time buyers exhibited a sharp increase in trading activity, with the 30-day RSI reaching an impressive 97.9. Conversely, long-term investors saw their holdings stabilize, with a significantly lower RSI of 3.2, indicating they are less likely to increase their positions. This behavioral shift is often seen as a precursor to a local market peak.