{"id":79990,"date":"2026-04-09T06:18:12","date_gmt":"2026-04-09T06:18:12","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=79990"},"modified":"2026-04-09T06:18:12","modified_gmt":"2026-04-09T06:18:12","slug":"bitcoin-remains-in-subdued-and-low-conviction-market-despite-bounce-glassnode","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=79990","title":{"rendered":"Bitcoin Remains in \u2018Subdued and Low-Conviction Market\u2019 Despite Bounce: Glassnode"},"content":{"rendered":"<div>\n<p>Bitcoin remains within a \u201csubdued and low-conviction market environment, with weak spot activity,\u201d reported on-chain analytics provider Glassnode on Wednesday.<\/p>\n<p>It added that spot trading volume \u201cremains soft,\u201d noting that with Binance\u2019s 30-day relative volume still sitting below the 1.0 baseline. This highlights a \u201clack of strong organic demand beneath the recent stabilization in price.\u201d<\/p>\n<p>BTC tapped a three-week high of $72,700 on Wednesday on the news of a two-week ceasefire between the United States and Iran.\u00a0However, it retreated sharply during the Thursday morning Asian trading session, falling back below $71,000 at the time of writing, and is \u201cstill inside the bear market value zone,\u201d stated Glassnode.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Bouncing in a Bear<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> bounced from $67k to $72k, but weak spot demand and softer futures activity suggest the recovery still lacks strong conviction, even as ETF flows begin to turn modestly positive.<\/p>\n<p>Read the full Week On-Chain<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f447.png\" alt=\"\ud83d\udc47\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><a href=\"https:\/\/t.co\/ADIT9yu3C4\">https:\/\/t.co\/ADIT9yu3C4<\/a> <a href=\"https:\/\/t.co\/S1T79HQ59z\">pic.twitter.com\/S1T79HQ59z<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/2041931274282267008?ref_src=twsrc%5Etfw\">April 8, 2026<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Expect Major Volatility<\/h2>\n<p>Iran reportedly <a href=\"https:\/\/x.com\/KobeissiLetter\/status\/2041953724399284283\">told<\/a> mediators it will be limiting the number of ships crossing the Strait of Hormuz, and crude oil prices have climbed back to $97 per barrel today.\u00a0Santiment <a href=\"https:\/\/x.com\/santimentfeed\/status\/2041953592504947049\">stated<\/a> that we clearly saw a \u201cbuy the news\u201d reaction when US President Donald Trump <a href=\"https:\/\/cryptopotato.com\/bitcoin-taps-72k-as-trump-agrees-to-two-week-ceasefire-with-iran\/\">announced<\/a> the two-week ceasefire this week.<\/p>\n<p>However, there are so many mixed reports coming out, so \u201cit needs to be treated more like a \u2018buy the rumor\u2019 event,\u201d it added before warning about more \u201cmajor volatility.\u201d<\/p>\n<p>Meanwhile, CryptoQuant analyst \u2018Darkfost\u2019 <a href=\"https:\/\/x.com\/Darkfost_Coc\/status\/2041987841266200715\">observed<\/a> that the number of addresses depositing Bitcoin on exchanges is \u201ccurrently collapsing,\u201d which is a \u201cclear signal of slowing activity across the market.\u201d<\/p>\n<p>Bitcoin exchange depositing addresses have plummeted to a ten-year low of around 31,000 per day on the 30-day moving average, matching 2017 activity levels and well below the annual average of 47,000, they said.<\/p>\n<blockquote>\n<p>\u201cHistorically, this type of sharp contraction in the number of depositing addresses tends to occur when bear markets are in advanced phases as the interest in the market gradually fades.\u201d<\/p>\n<\/blockquote>\n<h2>Crypto Market Gains Erode<\/h2>\n<p>Total capitalization had fallen 1.3% on the day to $2.49 trillion as this week\u2019s gains start to erode.\u00a0Ethereum prices had dipped slightly to $2,180 at the time of writing, and most of the altcoins were in the red with heavier losses for XRP, Solana, Dogecoin, Cardano, Chainlink, and Monero.<\/p>\n<p>RealVision CEO Raoul Pal <a href=\"https:\/\/x.com\/RaoulGMI\/status\/2041968457403539619\">remained<\/a> optimistic, stating, \u201cTotal global liquidity is rising, global M2 is rising, US total liquidity is rising, US M2 is rising, and China total liquidity is rising,\u201d all of which are bullish for high-risk assets.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/bitcoin-remains-in-subdued-and-low-conviction-market-despite-bounce-glassnode\/\">Bitcoin Remains in \u2018Subdued and Low-Conviction Market\u2019 Despite Bounce: Glassnode<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin remains within a \u201csubdued and low-conviction market environment, with weak spot activity,\u201d reported on-chain analytics provider Glassnode on Wednesday. It added that spot trading volume \u201cremains soft,\u201d noting that with Binance\u2019s 30-day relative volume still sitting below the 1.0 baseline. This highlights a \u201clack of strong organic demand beneath the recent stabilization in price.\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-79990","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/79990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=79990"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/79990\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=79990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=79990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=79990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}