Jesse Ellis
May 5, 2025 21:35
According to GlassNode’s latest report, Bitcoin’s market shows cooling momentum as speculative attention disappears.
The latest insights in GlassNode indicate that despite the constructive macro feelings, the cooling trend of Bitcoin (BTC) market epidemiology disappears into speculative momentum. This change suggests that the sensitivity to potential lower risks increases with the increase in unauthorized interests.
Market trends and indicators
Following the recent rally, which has recently pushed Bitcoin prices to $ 97,000, the market is now showing signs of slowing. Spot Market Momentum has proven to reduce the rapid rotation and daily transactions of SPOT CVDs to about $ 6 billion. This suggests the weak beliefs between buyers.
In the derivative market, the permanent future is relaxing. The CVD and financing rate retreated from the previous extremes, indicating a decrease in aggressive short positions, but there was little corresponding increase in the long position.
The ETF (Exchange-Traded Fund) flow is maintained positively but reduced at the peak level. The options market also signals and signals the decrease in speculative interest with the open interest and the clear negative volatility spread.
Profitability and warmth signal
The warm -chain metric emphasizes the current state of the market, and the proportion of profits reach 88%. In addition, the NUPL metrics remain stable at 0.53 and the realized profit/loss ratio has soared to 2.38. This indicator can lead to a profit of profit by reflecting a market with a large portion of the participants who participated in the profit.
Overall, these conditions suggest that the larger macroeconomic outlook is positive, while the market is experiencing the cooling of the speculative movement. This indicates that the vulnerability of negative catalysts is increased by combining with the increase of untimled profit.
Off chain and warm -up insight
Additional off chain indicators, such as the ETF flow and the optional market, match the on -chain data and draw a comprehensive picture of the current market environment. This insight is important for understanding the potential risks and opportunities of the Bitcoin market.
The report emphasizes that the current market conditions are constructive, but the observed trend emphasizes the possibility of creating short -term profits. Investors and merchants are advised to maintain the boundaries in the face of this evolving mechanics.
For more insights, see GlassNode’s full report.
Image Source: Shutter Stock