Glassnode: BTC rally could slow as market finds equilibrium

According to the latest weekly report from Glassnode, Bitcoin's recent rally, fueled by buying in both spot and futures markets, is showing signs of slowing as the market enters a more balanced phase between buying and selling pressures. The firm noted that BTC rose from $77,000 to $82,000 last week, with rising spot trading volume and Cumulative Volume Delta (CVD) indicating strong buying sentiment and increased investor participation. However, Glassnode suggests that slowing upward momentum points to a potential entry into a sideways or corrective phase. In the futures market, an increase in open interest (OI) signaled a greater appetite for risk, but a slowdown in capital flowing into long positions suggests that bullish sentiment is weakening. Furthermore, the report explained that in the options market, while demand for downside hedging has decreased, creating mixed expectations, a sharp rise in volatility skew indicates that market uncertainty remains high.