Glassnode: BTC sees accumulation between $62K-$72K but lacks upward momentum

Bitcoin is seeing strong accumulation between $62,000 and $72,000, according to Glassnode. However, the firm noted that the intensity is relatively weak compared to the accumulation phases seen just before previous bull cycles. While the conviction of market participants is gradually strengthening, Glassnode assessed that the foundation is not yet sufficient to support a medium-term uptrend.