Bitcoin Price Analysis: Glassnode Flags Weak Demand Behind the Bounce

The post Bitcoin Price Analysis: Glassnode Flags Weak Demand Behind the Bounce appeared first on Coinpedia Fintech News

Bitcoin has rebounded toward the $64,000 mark before dropping to 62K. However, blockchain analytics firm Glassnode isn’t convinced and says the recovery is not as strong as it looks. While institutional interest is slowly returning, weak spot demand, lower trading activity, and cautious derivatives positioning suggest the rally is still missing broad market conviction. The …