Yes

>>Glassnode notes that Bitcoin stays in a subdued, low‑confidence market despite the recent rebound.

Glassnode notes that Bitcoin stays in a subdued, low‑confidence market despite the recent rebound.

crypthub

1 day ago

Market Sentiment

Glassnode describes Bitcoin’s environment as subdued with low conviction and weak spot activity. Spot trading volume stays soft, highlighted by Binance’s 30‑day relative volume under the 1.0 baseline. The analysis points to a lack of strong organic demand despite recent price stabilization.

Price Action and Volatility

Bitcoin briefly hit a three‑week high of $72,700 after news of a U.S.–Iran ceasefire, then fell below $71,000 during Asian trading. Analysts expect major volatility, citing Iran’s limitation on Strait of Hormuz traffic and oil prices rising to $97 per barrel. Market reactions are seen as “buy the news” but are cautioned to be treated more like “buy the rumor” events.

Exchange Activity Indicators

CryptoQuant notes a collapse in addresses depositing Bitcoin on exchanges, reaching a ten‑year low of about 31,000 daily deposits. This sharp contraction historically aligns with advanced phases of bear markets as interest wanes. The trend suggests slowing activity across the broader market.

Broader Crypto Landscape

Total crypto market cap slipped 1.3% to $2.49 trillion, with Ethereum at $2,180 and most altcoins in the red. Despite the dip, RealVision’s Raoul Pal remains bullish, citing rising global and regional liquidity metrics. He views increasing M2 supplies as supportive for high‑risk assets.