BTC buying pressure returns in sign of market improvement, says Glassnode

Bitcoin buying pressure is reviving and gradually improving market sentiment, according to an analysis by Glassnode. The firm noted that the BTC Spot Cumulative Volume Delta (CVD) has turned positive, indicating a return of active buying. However, overall spot trading volume remains low, suggesting that market participation is still limited. In the derivatives market, participation is increasing, but a cautious atmosphere persists. Futures open interest has seen a slight increase, while the futures CVD has risen significantly. Most notably, the ETF market is seeing a renewed increase in institutional capital inflows. "Net inflows into U.S. spot Bitcoin ETFs have grown considerably, signaling a revival in institutional investor demand," Glassnode explained. The firm added that capital flows and investor positioning are also gradually improving. While the change in Realized Cap remains negative, it is approaching a neutral level, which has eased capital outflow pressure. "Overall, the market is showing a modest recovery trend," Glassnode stated. "Momentum and spot buying pressure are strengthening, and ETF inflows are continuing. However, with on-chain activity still low and derivatives traders maintaining a cautious stance, overall market sentiment has not yet fully stabilized."