Why The Bitcoin Bull Market Is Back On At $93,000: Glassnode
Bitcoin‘s (CRYPTO: BTC) recent price slide has become more than just a correction, now reflecting a deep contraction in capital inflows, liquidity and investor sentiment, according to new on-chain data from analytics firm Glassnode.
What Happened: The firm’s report released on Wednesday identifies $93,000 as a critical threshold that must be reclaimed to re-establish bullish momentum in the market.
The market downturn, triggered by global volatility following the U.S. administration’s latest tariff announcements, has caused a wide selloff across digital assets.
Bitcoin fell from $83,500 to $74,500, wiping out $150 billion in market cap.
Ethereum‘s (CRYPTO: BTC) decline was even steeper, with the asset falling from $1,800 to $1,380, shrinking its market cap by $40 billion.
Capital inflows across Bitcoin have sharply declined.
The network’s 30-day realized cap change, a measure of net new capital, peaked earlier this year at $100 billion per month but now sits at just $6 billion per month.
Ethereum has already flipped into net capital outflows, currently losing about $6 billion per month, as coins acquired at higher …
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