Bitcoin Investor Behavior Score Jumps to 40 Amid Gradual Recovery
Bitcoin investor behavior has seen a significant improvement over the past month, according to Glassnode data shared by @simplykashif. The Bitcoin Investor Behavior Score jumped from 29 to 40 in just one month, indicating easing selling pressure. However, wallet accumulation remains below neutral levels and buyers have not fully returned.
The recovery of accumulation metrics over the past six months has been gradual but still lags behind prior cycle averages. Despite this, the current market conditions are not entirely bearish, with the price trading within Bollinger Bands and testing upper resistance at $63,436.6.
A closer look at technical indicators reveals a neutral RSI of 52.33 and a MACD golden cross at -80.06 points to a likely retracement toward lower band support at $62,760.46 before any sustained move higher.