Glassnode: Bitcoin’s Recovery Rally Might Not Continue
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According to Glassnode analysts, the recovery of Bitcoin and Ethereum prices in recent days has not been accompanied by a fundamental improvement in on-chain indicators, which does not give confidence in a fundamental change in the market situation.
Doubts that the upward dynamics after overcoming the realized price by quotations will continue, forms the state of on-chain indicators.
The number of active Bitcoin addresses remains within the downtrend channel. The peak hit in October-November was lower than that reached in April last year all-time high.
With the exception of brief bursts during periods of capitulation, network activity remains subdued, suggesting a small influx of new demand.
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