Alvin Lang
June 3, 2025 05:06
Bitcoin’s price momentum is stagnant at less than $ 111K, making it a waiting time for market reuse. The warm chain data suggests integration, while the ETF flow and derivatives represent careful positions.
According to GlassNode, Bitcoin (BTC) ‘s recent price momentum faced a big challenge while struggling to maintain more than $ 111,000. The stall began to wait for a wide range of market reuse, and the spot market signal shows a decrease in demand and market participation.
Spot and futures market mechanics
The Spot Market once led a rally, but now it shows signs of fatigue. The relative robbery index (RSI) retreated to the neutral area, and the spot cumulative volume delta (CVD) overturned the voice. In addition, the volume of transactions has been reduced to confirm the full back of demand.
In the futures market, even though the interest is high, careful positioning continues. It suggests that long -range funding has been reduced and the permanent CVD has been reversed, resulting in a long reduction in exposure. This represents tactical tension rather than the overall dangerous off conversion.
ETF and optional market activities
The ETF market has reduced traditional financial participation by reflecting the decrease in pure flow and decreasing activity. On the other hand, the option market is still active, but the emotions are cooled but activated. The public interest has fallen and the 25 delta scale is negative but negative, indicating a currency -side bias with less guilty judgments.
Thermal activity and profitability
The basics of the hot chain propose the integration step. The activity address and amount decrease and the total commission decreases, indicating a lighter transaction demand. The liquidity measurement item shows humble capital inflow while long -term holders maintain their dominance. But the proportion of hot capital is much lower than the peak level.
Profitable indicators have also been cooled. The supply rate of profits retreated from the best of the happy, reduced profits, and NUPL (NET Unrealized Profit/Loss) escaped into neutral territory. Investors maintain profits, but increase their options for realizing profits.
Overall, the market is not as overheated as happiness in December 2024, but is trading at a high risk. In order for the rally to be continuously resumed, new demand from both retail and institutional sectors is essential. Without that, the current cooling exercise can last.
For more information, visit the original source of GlassNode.
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