Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Bitcoin plummet After: Glassnode Explained Why the Price Couldn't Rise! - Coin Bulletin
According to Glassnode data, Bitcoin is adjusting to a new price range after a 30% correction.
Recently, Bitcoin’s (BTC) price settled into a new price range after a 30% correction. According to Glassnode data, during this process, liquidity conditions began to tighten in both on-chain (on-chain) and futures markets. This tightening emerges as an important factor affecting Bitcoin’s (BTC) market movements and investor behavior.
In recent weeks, the digital asset market has been under massive downward pressure, with the price of Bitcoin falling from $97,000 in late February to $82,000 today. According to data from Glassnode, liquidity tightening continues markedly, supporting the decline in market capitalization.
Net capital flows into Bitcoin have nearly come to a standstill and the Realized Market Cap (Realized Cap) shows only a 0.67% increase monthly.
Two main observations can be drawn from this data:
The spending behavior of long-term holders of Bitcoin, (BTC), has significantly stabilized in the last few months. According to Glassnode data, these investors have not sold their assets without expecting a price increase. However, the changes in supply along with price volatility indicate that the value of Bitcoin, (BTC), is largely shaped by the actions of these long-term holders.
The liquidity contraction experienced during this period indicates a potential breaking point that could determine the direction of the Bitcoin (BTC) price. Investors’ increased feelings of uncertainty and risk in the market could further tighten liquidity.