Summary
- Glassnode said that if Bitcoin (BTC) reclaims $80,000, more than 54%% of all investors would return to profit, a pattern similar to past signals marking the end of bear markets.
- It said spot demand and ETF inflows have been rising gradually, bringing retail and institutional investors back into the market and supporting a price rebound.
- Still, persistently negative funding rates, the dominance of short positions, rising realized profits and low volatility suggest limited market conviction. Glassnode said continued spot buying and ETF inflows are needed for a break above $80,000, and added that if current levels fail to hold, a liquidity shortage could accelerate the decline.
Forecast Trend Report by Period
Bitcoin’s rebound is putting the focus on whether it can retake $80,000, a level analysts say marks the key threshold for confirming the end of the bear market.
In a report published on April 22, Glassnode said that if Bitcoin climbs back to $80,000, more than 54% of all investors would return to profit.
The analytics firm said that would resemble patterns seen in past cycles when bear markets were ending.
Spot demand and ETF inflows have recently increased gradually, drawing both retail and institutional investors back into the market and helping prices recover.
Even so, derivatives markets are still showing caution. Funding rates have remained negative, indicating that short positions continue to dominate.
Rising realized profits and low volatility also suggest market conviction has yet to fully form.
Glassnode said spot buying and ETF inflows must continue for Bitcoin to break above $80,000. If current price levels fail to hold, it added, limited liquidity could accelerate the decline.
Markets are watching whether Bitcoin can clear $80,000 as the key gauge of a broader trend reversal.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
