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).