Glassnode says Bitcoin’s decline is due to weak spot demand, which means:

According to a data report from Glassnode, Bitcoin (BTC)’s bearish price action and sharp decline over the past month have been attributed to weak spot demand.

one side, ETFSwap(ETFS) DeFi Tokens on Sale $0.01831 Experts predict that the cryptocurrency will surge by as much as 9,000% in the coming weeks following its viral ICO. Spot demand data from Glassnode shows that the cryptocurrency has hit an all-time high.

Bitcoin (BTC) could fall further due to weak spot demand.

Best Market Intelligence Company Glass node We recently analyzed Bitcoin (BTC) Cumulative Volume Data (CVD) to estimate the current net balance of buys and sells in the BTC spot market. The Glassnode data report on Bitcoin (BTC) spot demand showed sustained net selling pressure since the all-time high of $70,000 in March 2024.

Bitcoin (BTC) According to Glassnode data, BTC is trading at $59,200 with a negative CVD, indicating weak spot demand in the crypto market, indicating further downside momentum. However, despite the price volatility of Bitcoin (BTC), which has influenced the price increases of several cryptocurrencies in the crypto market, ETFSwap (ETFS) ICO token is the one showing the biggest gains due to the huge demand for viral pre-sale tokens, according to Glassnode data.

ETFSwap (ETFS) Set to Rise 9,000% as Glassnode Reveals Surge in Pre-Sale Token Demand

ETFSwap(ETFS) Viral ICO Offered at a Low Price $0.01831 According to a data report from leading market intelligence firm Glassnode, demand for ETFS tokens, which analysts expect to surge by as much as 9,000% upon launch in the coming weeks, has grown so much that they are nearly sold out.

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conclusion

ETFSwap (ETFS) Viral Pre-Sale Token Sale $0.01831 The next big event in the cryptocurrency industry is set to melt its face with a 9,000% rally after a Glassnode data report revealed that spot demand has surpassed Bitcoin (BTC).

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Glassnode claims Bitcoin’s decline is due to weak spot demand, here’s what he means: This post originally appeared on BTC Wires.