Bitcoin Recovery Stalls as Buyers Stay Away and Leverage Builds
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Glassnode reports that Bitcoin selling pressure is easing but buyers remain absent, leaving the crypto spot market weak while leveraged traders are already betting on a recovery. Bitcoin faces key technical levels at $58,500 and $68,700, highlighting the risk that leveraged positions are unsupported by current on-chain demand.
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- Bitcoin sellers are easing off, but buyers still lack the strength to drive a rebound.
- Leverage traders are betting on higher prices despite weak spot market demand.
- Bitcoin faces key levels at $58,500 and $68,700 as traders await direction.
Bitcoin’s recovery faces a key hurdle: buyers have yet to return in force, even as leveraged traders position for higher prices.
On-chain data firm Glassnode said selling pressure is losing momentum, but fresh demand remains limited. “Sellers are tiring but buyers are absent,” the firm said on X, warning that leveraged traders are already betting on a recovery that current market data does not yet support.
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