Bitcoin’s Momentum Falters — What You Need To Watch Next
Bitcoin (CRYPTO: BTC) is trading sideways around the $113,00 mark on Tuesday as Glassnode’s weekly report highlighted weakening momentum and growing profitability stress across the market.
Bitcoin Momentum Falters As RSI Signals Weakness
Glassnode noted that Bitcoin traded above the cost basis of short-term holders, but the RSI fell sharply to 34.6, showing fading upside energy.
Spot CVD remained negative at –$124 million despite slight improvement, while daily volumes jumped 21% to $7.2 billion, suggesting liquidity remains active even as enthusiasm thins.
Derivatives Market Turns Defensive With Bearish Bets
Futures open interest and funding rates declined, pointing to reduced leverage. In contrast, options demand rose with traders skewing toward downside protection.
Volatility spreads stayed firm, reflecting expectations of price swings without clear directional conviction.
On-Chain Signals Show Weaker Fundamentals
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