Summary
- The Glassnode founder reported that while Bitcoin rebounded from $93,500 to $95,000, there is a lack of spot trading volume.
- He stated that the current Risk Index is warning of additional declines.
- He added that $92,000 will become a major downside support level.
Despite Bitcoin (BTC)'s price recovery, claims have emerged that additional declines may occur.
On the 19th (local time), Negentropic, the Glassnode founder's account, stated via X that "Bitcoin rebounded from $93,500 to recover $95,000," but added that "the weak rebound suggests a current lack of BTC spot trading volume." He further noted that "the Risk Index is warning of additional declines" and added that "$92,000 will be a major downside support level."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![Shock that there is 'no US government backstop'… Bitcoin retreats to the $60,000 level; Ethereum also rattled [Lee Soo-hyun’s Coin Radar]](https://media.bloomingbit.io/PROD/news/b23cb4d1-e890-4f1c-aa52-f18f45dc8192.webp?w=250)
