Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Bitcoin (BTC) is trading near $80,000 on Monday despite weakening activity across spot and derivatives markets.
In a report on Monday, Glassnode noted that the top crypto briefly broke above $80,000 before consolidating near its current level, as price momentum declined 5% over the past seven days, falling from 85.5 to 81.2. Despite the decline, the indicator remained above its upper statistical threshold of 68.8, suggesting that upward pressure and buyer dominance remained intact.
However, spot market activity showed signs of cooling. Glassnode said spot cumulative volume delta (CVD) fell 124%, from $279.7 million to -$67.2 million. The shift into negative territory suggested that selling pressure was beginning to outweigh buying activity among market takers.
Spot trading volume also decreased 29.3%, falling from $8.7 billion to $6.2 billion over the seven days. The decline pointed to lower participation as consolidation took precedence over fresh breakout attempts.
Bitcoin futures activity shows diverging signals
Glassnode also highlighted that the futures market presented a more mixed picture. Futures open interest increased 2.4% over the week, rising from $35.9 billion to $36.7 billion. The metric remained above its high statistical band, indicating elevated participation and continued speculative engagement.
“This heightened leverage indicates that market engagement remains strong, leaving participants sensitive to derivatives driven price swings,” the report noted.
Meanwhile, funding rates fell, as long-side funding declined 21.9%, from $2.1 million to $1.6 million. The reduction suggested some cooling in aggressive long positioning, although market participants continued to maintain a positive premium for bullish exposure.
The contrasting signals show that leverage remains elevated even as directional conviction weakens.
ETF demand and capital flows remain strong
Institutional participation through US spot Bitcoin ETFs remained supportive despite a slowdown from the previous week. Inflows into US spot Bitcoin ETFs declined 50.72%, falling from $1.9 billion to $946 million.
Nevertheless, the latest figure remained above the metric’s high statistical band, reflecting continued demand for regulated Bitcoin investment vehicles.
On-chain capital flow indicators also strengthened, with Realized Cap Change increasing 293.8% over the past seven days, moving from negative 0.2% to positive 0.3%.
The short-term holder (STH) to long-term holder (LTH) supply ratio rose from 13.3% to 13.7%, while hot capital share climbed from 24.9% to 26.7%.
“The stable positioning points to a balanced holder base without excessive speculative churn among newer market participants,” Glassnode added.
BTC is trading at $79,024, up 0.1% in the past 24 hours at the time of writing.
With a deep passion for web3 technology, he’s collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3’s transformative potential across diverse sectors.
In addition to
Source: www.fxstreet.com