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Glassnode: Intensified Selling Pressure on Bitcoin Spot Market, Accumulating Distribution Pressure

AirdropBlackHole
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On May 28, Glassnode disclosed the latest on-chain data showing that the Bitcoin spot trading volume difference (7-day moving average) has re-entered a sustained negative range. As the price of Bitcoin has fallen back to around $73,000, there has been a noticeable acceleration in selling pressure, with sellers continuing to dominate the spot market, leading to gradually accumulating distribution pressure. Recently, during Bitcoin's decline from above $80,000 to around $75,000, spot demand, ETF capital inflows, and volatility expectations have all continued to weaken. Although market positions have been somewhat reset, investor confidence remains limited, with an overall cautious wait-and-see attitude.
BTC-1.97%
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