Glassnode: Bitcoin tăng do áp lực mua mạnh, thị trường hiện đang cân bằng

The Huoxing Finance report states that, on May 12, Glassnode’s latest weekly report noted that Bitcoin slowly rose from $77,000 to $82,000 last week, with buying pressure consistently absorbing pullbacks, even as price momentum began to cool near local highs. Spot CVD surged, reflecting strong bullish sentiment and firm conviction in further price increases. Meanwhile, spot trading volume also increased, indicating that recent price movements gained additional support from heightened investor participation. However, the moderation in price momentum suggests a more balanced supply and demand dynamic, hinting that the market may be entering a consolidation phase. The futures market showed similar trends, with risk appetite rising. Open interest in futures contracts increased, indicating heightened speculative activity and investors’ willingness to take on more risk; the perpetual contract CVD surged, signaling sustained bullish momentum. However, the decline in long funding rates suggests a shift toward short positions, implying a possible weakening of bullish sentiment. In the options market, demand for downside protection decreased while open interest rose, indicating a shift in market expectations toward neutral or slightly bullish outlooks. Nevertheless, the volatility skew surged significantly, suggesting that the risk reflected in options pricing far exceeds actual risk, reflecting a marked increase in participant uncertainty. Overall, Bitcoin’s market structure continues to improve underpinned by stronger on-chain activity, healthier profitability, and more stable holder positioning. Although bullish sentiment is strengthening, the slowing capital inflows and cautious market sentiment indicate that the market remains sensitive to changes in risk appetite.