Glassnode: BTC inflows continue, but buying pressure remains muted

New demand for Bitcoin (BTC) continues, but overall buying pressure remains modest, according to Glassnode’s Supply by Investor Behavior metric on X. BTC held by first-time buyer addresses rose about 1% over the past five days, from 4.88 million to 4.93 million. Holdings of addresses consistently accumulating BTC (Conviction Buyers) increased 10.1%, from 933,000 to 1.03 million, but the growth was smaller than during April’s surge. The data suggest the recent price decline may be too small to trigger strategic buying, or that investors remain hesitant to accumulate.