"New Bitcoin Investors Absorbing Sell-offs from Existing Holders"

New Bitcoin (BTC) investors are reportedly absorbing the sell-offs from existing Bitcoin holders.

On the 10th (local time), Glassnode stated on X, "The proportion of new Bitcoin investors (holding for less than 3 months) has surged," adding, "They currently account for 49.6% of the Bitcoin network's liquidity." Furthermore, they noted, "This indicates that new demand has absorbed the selling pressure from existing investors."

As of 3:27 PM, Bitcoin is trading at $94,366 on the Binance USDT market, up 0.45% from 24 hours ago.