Glassnode: Bitcoin selling pressure temporarily alleviated, market recovery requires renewed spot demand

GateNews

2026-02-10 04:18:15

BTC-2,78%

BlockBeats News, February 10 — Glassnode released its weekly market report indicating that Bitcoin’s price rebounded from $60,000 to $69,000. However, although spot trading volume has increased, it remains low, showing that selling pressure has eased but buyer participation is cautious. This reflects frequent trading turnover in the market after a downward revaluation, rather than decisive accumulation.

Off-chain indicators show that futures and options positions are highly defensive. ETF trading volume surged to a high of $45.5 billion, but capital outflows have slowed, and overall risk appetite remains low. On-chain fundamentals activity has strengthened, but capital inflows are negative, and unrealized losses dominate supply. Overall, a sustained market recovery may depend on the recovery of spot demand, which could stabilize prices above recent lows.

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