Bitcoin spot market activity is showing early improvement as trading volumes rise and sell-side pressure eases, according to Glassnode.
Glassnode said spot Bitcoin volume recorded a modest increase while the net buy-sell imbalance moved above its upper statistical band.
The data points to a clear reduction in sell-side pressure across the spot market.
Despite the improvement, Glassnode said spot demand remains fragile and uneven.
Bitcoin fell nearly 3% from its weekend high to trade below $93,000 amid broader market uncertainty.
The decline came as markets reacted to renewed escalation in US and EU trade tensions.
Bitcoin remains up around 6% since the start of the year.
“Overall, Bitcoin remains in consolidation, but internal conditions are improving,”
Glassnode said.
“Strengthening buy-side dynamics and renewed institutional interest suggest a gradual rebuild,”
Glassnode said.
Gracie Lin said recent data shows the market has absorbed much of the late-2025 profit-taking.
“Long-term holders appear less inclined to sell into every rally,”
Gracie Lin said.
“ETF flows continue to show institutions buying pullbacks,”
Gracie Lin said.
Lin said macro uncertainty and record gold prices are reinforcing Bitcoin’s role as a portfolio hedge.
Analysts at Swissblock said declining network growth and liquidity resemble conditions seen in 2022.
Swissblock said similar conditions previously led to a consolidation phase before a major rally.
“History shows that the subsequent surge in both metrics fueled the major bull run,”
Swissblock said.
At the time of reporting, Bitcoin price was $91,032.19.