Bitcoin’s (BTC) $ 2 trillion market capital has attracted a wave of new buyers to the market, while experienced dealers are cautious, according to analysis of on-chain data of glass node.

BTC’s price peaked $ 100,000 last Thursday and lifted its market value over $ 2 trillion for the first time since January 31, according to Data Source TradingView. Since then, the ship has stabilized over $ 2 trillion labeled, with analysts demanding record highs on the back of an impending US inflation data later Tuesday.

It is common for new investors to participate in the market under such bullish relationships, and they do so in large numbers suggesting retail fomo, a crypto -slang for “fear of missing out on.” Fomo happens when investors feel compelled to buy coins because they see others achieving gains or fears that prices will rise significantly without them. It causes investors to make impulsive purchases driven by emotions rather than careful examination.

“BTC Supply Mapping shows sustained strength in new demand. The first time buyers RSI has held at 100 all week,” Glassnode said at X.

Glassnode’s supply mapping tool represents granular segmentation of various investor cohorts based on their behavioral patterns.

The first timers are defined as wallets that engage in the token for the first time. The 30-day relative strength index for the first time buyers who last 100 throughout the week indicates strong buying interests from these participants.

However, the activity of other investor cohorts is not so encouraging, raising the possibility of a BTC price solidation or withdrawal.

Per Glassnode remains the demand from momentum buyers weak, with the 30-day RSI at. 11. Momentum dealers capitalize on an established uptrend or downwards that bet it will continue.

“Momentum buyers remain weak (RSI ~ 11), and profits are rising. If fresh influx slowly, the lack of follow -up can lead to consolidation,” noted glass node.