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Glassnode: Bitcoin spot selling pressure is intensifying, and the distribution pressure is gradually accumulating
BlockBeats message. May 28 — Glassnode disclosed the latest on-chain data, showing that the difference in Bitcoin spot trading volume (7-day moving average) has re-entered a sustained negative range. As Bitcoin’s price falls back to around $73,000, the market has seen a clear acceleration in selling pressure. Sellers have continued to dominate the spot market, and pressure from distributing holdings is gradually accumulating.
In the recent process of Bitcoin falling from above $80,000 to around $75,000, spot demand, ETF inflows, and expectations for volatility have all continued to weaken. Although market positions have been reset, investors’ confidence remains limited, and the overall picture shows a cautious, wait-and-see stance.