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UPDATE: Glassnode says Bitcoin's bottoming process is advancing, but not yet complete.
Glassnode reported that Bitcoin's bottoming process is moving forward, indicating that the cryptocurrency is still in a phase of price stabilization, but the bottom has not yet been fully reached.
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Updated:
What happened
Glassnode reported that Bitcoin’s bottoming process is moving forward, indicating that the cryptocurrency is still in a phase of price stabilization, but the bottom has not yet been fully reached.
Confirmed
Global impact / market context
If Bitcoin is still bottoming, investors may expect further price support before any upside, which can influence risk appetite, portfolio allocation to crypto, and the timing of new capital entering the market.
Analyst inference
The broader crypto market has been volatile, with recent price swings and mixed sentiment, so a progressing bottom for Bitcoin could set the tone for other digital assets and affect overall market confidence.
Analyst inference
What to watch
- Glassnode’s on‑chain metrics such as active addresses and exchange inflows, which can signal whether the bottoming phase is gaining strength or weakening. Analyst inference
- Bitcoin price levels around key support zones, because breaking below them may indicate the bottom is not yet complete, while holding could suggest stabilization. Analyst inference
- Broader crypto market trends, including altcoin performance and regulatory news, as they often move in tandem with Bitcoin and can amplify or dampen the bottoming process. Analyst inference
Affected assets
- BTC — Bitcoin