Glassnode Weekly: Bitcoin trading activity rebounds, but sellers remain in control.
According to CryptoSlate, Glassnode’s weekly report on November 9 showed that Bitcoin trading activity had picked up, but sellers remained more active in trades. The rebound in trading volume did not change this trend.
· The report cited stronger spot-market buying as a condition for confirming a recovery, but gave no specific price levels or time frame.
· This conclusion applies only to on-chain and trading activity observed during the week ending November 9 and cannot be directly extrapolated to subsequent price movements.
Would you watch spot trading volume or the taker buy-sell imbalance first?
$BTC
According to CryptoSlate, Glassnode’s weekly report on November 9 showed that Bitcoin trading activity had picked up, but sellers remained more active in trades. The rebound in trading volume did not change this trend.
· The report cited stronger spot-market buying as a condition for confirming a recovery, but gave no specific price levels or time frame.
· This conclusion applies only to on-chain and trading activity observed during the week ending November 9 and cannot be directly extrapolated to subsequent price movements.
Would you watch spot trading volume or the taker buy-sell imbalance first?
$BTC
