Bitcoin Market Facing A Persistent Net Sell-Side Bias, Glassnode Reveals

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Bitcoin Market Facing A Persistent Net Sell-Side Bias, Glassnode Reveals - NewsBTC

Quick Summary:

In a recent post on the X platform, blockchain data company Glassnode revealed that the Bitcoin spot market has been experiencing a net-sell side bias over the past two years.

This on-chain observation is based on the Spot Cumulative Volume Delta (CVD) indicator, which measures the net difference between buying and selling trade volumes. Related Reading: MATIC Set For Rebranding In Early September: Will Polygon Prices Recover After Sinking 65%?

This is especially relevant because a return of CVD to positive values could signal an increase in Bitcoin spot market demand, which could be favorable for the Bitcoin price.