08:41
Glassnode: Market sentiment has shifted from exuberance to caution, and the future trend depends on the likelihood of liquidity returning to stability or further adjustment.
PANews reported on August 26 that according to Glassnode data, BTC rose to $117,000 over the weekend but quickly fell back to $111,000, showing increased market fluctuation. The momentum in the spot market has weakened, with RSI nearing the oversold zone, intensified selling pressure, and stable trading volume but weak buyer confidence. In the futures market, leverage has decreased, and the funding rate has risen, indicating weakened speculative demand. Regarding ETFs, the outflow of funds from U.S.-listed spot ETFs reached $1 billion, with trading volume declining and institutional demand cooling off. On-chain data shows a decrease in daily active addresses and trading fees, with a decline in network utilization, while transfer volume has increased due to volatility. Overall, the market has shifted from euphoria to caution, and the future trend depends on the likelihood of liquidity returning to stability or further adjustment.
BTC-1.11%