Data: The Bitcoin spot and futures markets are strengthening simultaneously, with strong bullish sentiment in the market
glassnode published its weekly market outlook, indicating that Bitcoin's price momentum has increased by 51.7%, breaking through previous highs, reflecting a significant enhancement in spot buying power and a strengthening of market buying support.
On the other hand, Bitcoin's futures open interest continues to rise, and the options Delta skew shows a moderation of bearish sentiment. Combined with a cooling of on-chain activity, this suggests that the market is currently in a consolidation phase but with improved sentiment. glassnode stated that from a profitability perspective, market pressure has eased. Overall, various indicators collectively suggest that the market is exhibiting strong bullish sentiment, increased investor participation, and enhanced risk appetite, although there are also signs of cautious sentiment and market stabilization.
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