Research: "BTC Mixes Bullish Momentum and Correction Phase... Approach with Caution"

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Glassnode analyzed that the Bitcoin market is currently exhibiting a mix of bullish momentum, cautious investor sentiment, and a correction phase, requiring a more prudent approach. In this regard, on-chain analytics firm Glassnode explained in a weekly report, "Buying pressure in the Bitcoin market remains robust, but a decrease in speculative activity suggests that investors are taking a more balanced approach to risk management. While the decline in trading volume and daily active addresses in the spot market indicates a correction phase, signs of market stabilization are being observed on the on-chain side."

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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