PANews reported on February 3rd that, according to Glassnode analysis, Bitcoin fell to $74,000, with the 14-day RSI entering oversold territory, indicating significantlyPANews reported on February 3rd that, according to Glassnode analysis, Bitcoin fell to $74,000, with the 14-day RSI entering oversold territory, indicating significantly
Glassnode: Bitcoin's short-term stabilization may depend on the easing of selling pressure and a recovery in demand.
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PANews reported on February 3rd that, according to Glassnode analysis, Bitcoin fell to $74,000, with the 14-day RSI entering oversold territory, indicating significantly weakened momentum. Spot trading volume rebounded somewhat, but the reaction was sluggish, suggesting the downtrend continues rather than presenting a buying opportunity. The spot market is dominated by sellers, ETFs remain under pressure, the derivatives market is experiencing significant deleveraging, on-chain activity is sluggish, and the overall market has entered a risk-averse mode. Short-term stabilization may depend on the easing of selling pressure and a recovery in demand.
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