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Uptick in Bitcoin spot trading hints at possible breakout to $119K
Bitcoin's spot market is flashing signs of a potential recovery rally. Data from Glassnode indicates BTC’s Cost Basis Distribution (CBD) shows a sharp divergence with Ether. The CBD is an onchain metric that identifies price levels where significant supply has been accumulated or distributed. While ETH flows remain sparse, Bitcoin spot activity is denser, with transactions clustering tightly across recent levels. This density could indicate a strong buyer’s conviction, and in the past, it has provided more durable support than futures-driven momentum. Exchange flows add weight to the thesis. A CryptoQuant ... (full story)
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