Bitcoin (CRYPTO: BTC) tapped $64,000 the previous week, but Glassnode’s Weekly Market Pulse report shows weakening spot participation, declining on-chain activity, and defensive options positioning underneath the price recovery.
What Is The Spot Market Actually Saying?
Bitcoin’s 14-day Relative Strength Index jumped from 50.8 to 66.9, pushing the asset into overbought territory.
Spot trading volume fell 21.5% to $4.1 billion, well below Glassnode’s lower threshold of $4.7 billion.
Spot cumulative volume delta flipped from positive $17.2 million to negative $58.8 million, meaning aggressive sellers now outnumber aggressive buyers even as price climbs.
