Glassnode: Despite Easing Sell Pressure, Market Still Under Strain Amid Weak Profitability And Negative Capital Flows

Blockchain information and intelligence platform Glassnode has launched a brand new market evaluation highlighting that the market continues to be positioned defensively throughout main sectors. 

According to Glassnode, the market momentum has begun to recuperate from oversold ranges, with the 14‑day RSI shifting again towards its decrease statistical vary, suggesting that promoting stress is easing at the same time as consumers stay cautious. 

Spot buying and selling volumes have elevated, however the agency notes that exercise seems reactive to current worth declines somewhat than indicative of sustained accumulation. Spot CVD stays detrimental, pointing to continued dominance of promote‑aspect flows, whereas ETF outflows have slowed regardless of positioning that also displays a defensive stance.

Derivatives markets present an analogous sample. Futures open curiosity has fallen under typical ranges, signalling broad place unwinding and diminished speculative urge for food. Funding charges have cooled as merchants pull again from leveraged lengthy publicity. Perpetual CVD has steadied, however choices markets proceed to lean towards draw back safety, with lighter open curiosity, compressed volatility premiums, and skew favouring hedging methods.

On‑chain indicators mirror a market shifting from acute stress towards early stabilisation. Transfer volumes have risen above their higher statistical band, whereas charge demand stays regular. Capital flows have turned detrimental, realised cap progress is slowing, and unrealised losses make up a major share of provide—situations Glassnode associates with late‑stage correction phases the place promoting stress could start to subside.

Bitcoin Market Remains Defensive As Analysts Point To Weak Profitability And Ongoing Sell‑Side Pressure 

Overall, the report describes a market nonetheless positioned defensively throughout main sectors. Profitability stays weak, capital inflows are detrimental, and hedging demand is elevated following current repricing. 

Although a number of indicators trace that promoting stress could also be moderating, Glassnode notes {that a} sustained restoration will doubtless require renewed spot demand able to supporting costs above current lows.

At the time of reporting, Bitcoin is buying and selling at $68,925, reflecting a decline of greater than 1.48% over the previous 24 hours, with costs ranging between $68,446 and a high of $71,003, in line with CoinMarketCap information. 

Figures from SoSoValue point out that US spot Bitcoin ETFs recorded a mixed internet influx of $145 million on February ninth, suggesting continued institutional participation regardless of current market volatility.

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