Bitcoin Faces Uncertainty: Glassnode Raises Concerns About Sustainability of Rebound

Despite a recent rebound, Bitcoin’s upward momentum faces potential challenges. On-chain analytics firm Glassnode highlights the risk of further decline if Bitcoin fails to break through key resistance levels, prompting caution about investor sentiment and market stability. The firm warns that without a strong catalyst to lift prices above $117,000, Bitcoin could enter a deeper contraction, potentially leading to more significant correction.