📊👀 #BTC Glassnode: BTC shows the first signs of structural recovery, returning to key levels of transaction cost basis in the blockchain and approaching resistance levels around $85,000. Spot demand and ETF inflows are recovering, indicating that bulls still maintain control, but the market is now approaching a key ceiling where new supply may start to appear.


At the same time, the position in derivative instruments remains tilted toward short positions, creating conditions where further growth could be driven by pressure from short positions.
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