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>>Bitcoin’s market structure keeps strengthening as bullish signals intensify, according to Glassnode.

Bitcoin’s market structure keeps strengthening as bullish signals intensify, according to Glassnode.

crypthub

5/12/2026, 5:30:15 AM

Price Action and Trading Volume

Bitcoin rose from about $78,000 to just over $82,000 twice last week, with buyers absorbing pullbacks despite cooling momentum near local highs, Glassnode reports. A brief dip below $81,000 in early Asian trade was followed by strong bullish sentiment and heightened conviction. Spot trading volume has risen, indicating growing investor participation and traction in recent price moves.

Market Structure and Momentum

Analysts say BTC’s market structure is improving, supported by stronger on‑chain activity, healthier profitability, and more stable holder positioning. Swissblock notes that Bitcoin remains at full momentum, with the latest reset finally holding above the transition zone, keeping bulls in control. However, softer capital inflows and cautious sentiment keep the market sensitive to risk‑appetite shifts.

Outlook and Price Targets

Permabull “Sykodelic” highlights the absence of hard rejections, noting higher highs and a daily close above the 200‑day EMA, positioning BTC above the bull‑market support band. They forecast a breach of $85,000, possibly within the week. Over the past month BTC has gained more than 13 % and remains in a slow but steady six‑week uptrend.