Bitcoin BTC/USD is exhibiting signs of seller exhaustion, according to new analysis from blockchain intelligence firm Glassnode, even as overall market structure remains vulnerable.

What Happened: The report paints a picture of a recalibrating crypto market that has retreated from recent highs, yet shows early signals of potential recovery.

After testing the lower bounds of liquidity near the $114,000 threshold, Bitcoin’s euphoric momentum has sharply cooled.

Across spot, derivatives, and on-chain markets, indicators suggest declining risk appetite, thinning volumes, and rising demand for hedging, common hallmarks of markets nearing a local bottom.

In the spot market, Bitcoin’s RSI…

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