Bitcoin’s Rebound Is Spotty: Key Metrics Suggest Continued Caution From Glassnode

Despite a recent rebound in the Bitcoin price this week, data from blockchain analytics firm Glassnode reveals both cause for optimism and warning signs. The leading cryptocurrency surged to around $121,000 after briefly falling below $114,000. This move has seen renewed interest in the spot market, with activity levels picking up across various sectors. However, the data indicates a need for cautious optimism as key indicators suggest potential instability ahead.