Bitcoin Market in a Fragile Equilibrium, Glassnode Analyzes Key Price Levels

On-chain analytics firm Glassnode released its latest weekly report on the 5th, analyzing that the Bitcoin (BTC) market is currently in a fragile state of equilibrium.

Although it is oversold, it has not yet reached a state of panic, suggesting that the market is in a mild bearish phase. The firm also stated that, while cautious, the market structure remains fundamentally sound.

In the early stages of this cycle, long-term holders were selling Bitcoin during major bullish phases, but now they are selling during a bearish market. This ongoing selling trend in a ranging market, with a downward tendency, indicates an increasing sense of fatigue among veteran investors...