Bitcoin Market Structure Continues to Improve as Bullish Undertones Build: Glassnode

Bitcoin has spent the last week grinding higher from around $78,000 to top $82,000 twice, with buyers “continuing to absorb pullbacks even as momentum started to cool near local highs,” reported Glassnode on Monday.

The asset dipped below $81,000 briefly in early trading in Asia on Tuesday, but there has been “strong bullish sentiment” and “heightened conviction” in upward price movements, it added.