According to glassnode, first-time buyers remain highly active in the Bitcoin market, as indicated by a 30-day RSI above 90. This elevated momentum suggests continued new demand could sustain the ongoing Bitcoin rally. However, if this influx of new buyers slows, the market may experience short-term consolidation due to weakening momentum support and increased profit-taking. Traders are advised to monitor cohort rotation and demand trends closely, as these factors could impact immediate price action and volatility (source: glassnode, June 2, 2025).

According to CrypNuevo on Twitter, Bitcoin's current momentum remains strong, with no immediate signs of reversal. The analysis highlights a potential third leg up to the $97,000 level, where increased liquidity may trigger significant trading activity. Traders are advised to monitor the 4-hour 50 EMA, as a pullback to this technical level could provide a key support area for long entries. This strategy is supported by recent liquidity mapping and momentum studies shared by CrypNuevo (source: CrypNuevo, Twitter, April 27, 2025).