On-chain analytics firm Glassnode released its weekly market report on the 1st, noting that Bitcoin has dipped below $60,000. Institutional outflows and a defensive stance in the options market continue to weigh on market sentiment. However, beneath the surface, long-term holders and resilient buyers have begun to absorb supply, suggesting the early stages of a bottoming process.
The Bitcoin Accumulation Trend Score has significantly increased over the past month, indicating...