Bitcoin shows signs of recovery — Glassnode

Early signs of recovery have appeared in the Bitcoin market, but it is still too early to talk about a sustainable bullish trend, according to analysts at the on-chain platform Glassnode.

Bitcoin’s rise above $70,000 has restored optimism in the market, but on-chain metrics indicate that the current movement resembles an early recovery phase characterized by sharp price fluctuations, analysts said.

Bitcoin is currently trading within a relatively “free” range between $72,000 and $82,000 — an area with fewer resistance levels, which theoretically makes further growth easier. However, the leading cryptocurrency is already facing selling pressure.

After the price moved above $70,000, short-term holders began actively taking profits. Selling rates reached $18.4 million per hour, indicating increased activity from speculative capital.

This pattern has been observed before: during failed growth attempts, investors exited positions on price increases, limiting further upward movement, Glassnode noted.

Analysts emphasized that the key factor in the near term will be the market’s ability to absorb this selling volume. If Bitcoin manages to hold above $70,000 and absorb profit-taking pressure, it could create conditions for a move toward the $78,000–82,000 range.

Earlier, a CryptoQuant analyst known as Darkfost stated that Bitcoin buyers are returning to major exchanges such as Binance and Coinbase after a two-month period dominated by sellers.

See also: "Santiment assessed the crypto market’s reaction to the Fed holding rates"

#Bitcoin (BTC)

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