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Analyst: On-chain indicators show that BTC's profit-making chips are starting to be reluctant to sell. Although there are no new buyers in ETH, believers are continuing to buy.

On April 23, online data analyst Murphy posted on social media that according to the RSI (Relative Strength Index) indicator launched by Glassnode, a group of new buyers of BTC showed significant activity in April, and they actively bought after the price bottomed out. At the same time, a group of trend buyers are also following suit. During the period from April 8 to April 15, some profit-making chips fled, but this behavior did not continue to occur in the subsequent rebound, indicating that market confidence was slowly recovering and profit-making chips began to be reluctant to sell. The data situation of ETH is very different from that of BTC. Since February this year, ETH has had few new and trend buyers. At the same time, there were concentrated losses selling (surrendering) between April 10 and April 16, but this behavior has not continued since then as prices rebounded. However, some investors have always insisted on buying when ETH prices fell, and this behavior has continued since March 26.

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