Bitcoin (BTC) Investors Are Getting ‘GREEDY’ as Crucial Metric Turns Bearish, Hinting at a Pullback

Bitcoin [BTC] lived up to investors’ expectations last week by pumping its price well enough. However, the king coin started to consolidate over the

Bitcoin [BTC] lived up to investors’ expectations last week. BTC managed to push its price by 8% last week, and this push allowed BTC to flip its $96k resistance into a new support, hinting at a further rise above $100k.

Now, a crucial BTC metric turned bearish, hinting at a pullback.

Bitcoin investors are getting ‘GREEDY’

A popular crypto analyst, Ali Martinez, posted a tweet revealing a notable development. As per the tweet, long-term BTC holders were showing signs of growing greed. Historically, this behavior suggests it could take 8-11 months for BTC to hit a market top.

If this turns out to be true on this occasion, BTC reaching a market top might get delayed. To be precise, investors might see BTC reaching that level only by June or September 2025.

Bitcoin’sịpullback' warning

To see whether the rising greed in the market will result in a correction, AMBCrypto assessed Glassnode’s data. After a sharp decline, Bitcoin’s NVT ratio started to rise again. This meant that BTC was getting overvalued, suggesting a price drop soon.

Nonetheless, the market at large continued to remain optimistic on BTC. This was evident from the coin’s accumulation trend score, which had a value of over 0.9.

For initiators, a value closer to 1 indicates high buying pressure. Generally, rising buying pressure results in continued price hikes. Therefore, the chances of BTC not getting affected by the rising greed in the market can’t be ruled out yet.

Apart from that, Bitcoin’s Open Interest (OI) also remained high. Whenever the metric rises, it indicates that the chances of the ongoing price trend continuing are high.

However, a look at BTC’s daily chart revealed that the coin was testing a trendline resistance. The MACD displayed the chances of a bearish crossover. Moreover, the Relative Strength Index (RSI) was resting in the overbought zone.

This might trigger a sell-off, which could restrict BTC from breaking above the resistance in the near-term.