Glassnode: Bitcoin market structure is beginning to weaken, with a significant increase in downside protection in the options market

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ME News Report, May 19 (UTC+8), Glassnode released a weekly report stating that Bitcoin, after rebounding from the high of $60k to above $82k, has seen short-term momentum weaken and is currently retreating to around $77k. Spot market selling pressure has clearly increased, with Spot CVD down 848.7%, Perpetual CVD down 278.7%, indicating sellers are dominating both the spot and perpetual contract markets. Meanwhile, the 25-Delta Skew in the options market has risen 42.75%, suggesting traders are increasing downside protection. Although spot trading volume has slightly increased by 4.2%, net inflows into U.S. stock Bitcoin spot ETFs have significantly worsened, and MVRV has decreased by 6.1%, indicating weakening institutional confidence. The dominance of long-term holders is still rising, but NUPL and realized profit/loss ratios have weakened significantly, and overall market sentiment is fading. (Source: Foresight News)
BTC-2.05%
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