Bitcoin

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<p>Bitcoin has rebounded toward the $64,000 mark before dropping to 62K. However, blockchain analytics firm Glassnode isn’t convinced and says the recovery is not as strong as it looks. While institutional interest is slowly returning, weak spot demand, lower trading activity, and cautious derivatives positioning suggest the rally is still missing broad market conviction.</p>
<h2 id="h-the-rally-lacks-strong-buying-support" class="wp-block-heading"><strong>The Rally Lacks Strong Buying Support</strong></h2>
<p>According to <a href="https://research.glassnode.com/btc-market-pulse-week-29-2026/" rel="noopener noreferrer nofollow">Glassnode</a>, several on-chain indicators show that Bitcoin’s recent recovery has been driven by thin liquidity. This is occurring rather than aggressive buying.</p>
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   <p>bitcoin:native recovered toward $64K, but weak spot participation and subdued on-chain activity suggest the move lacks broad conviction. Institutions are returning, while options remain defensive.<br><br>Read this week’s Market Pulse👇<a href="https://t.co/5XDjtDSiHl" rel="noopener noreferrer nofollow">https://t.co/5XDjtDSiHl</a><a href="https://t.co/EVlTuoUHYH" rel="noopener noreferrer nofollow">pic.twitter.com/EVlTuoUHYH</a></p>— glassnode (@glassnode) <a href="https://x.com/glassnode/status/2076594599225614364?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 13, 2026</a>
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<p>Some of the key metrics include:</p>
<ul>
 <li>Bitcoin’s 14-day RSI jumped from 50.8 to 66.9, pushing the asset close to overbought territory.</li>
 <li>Spot trading volume dropped 21.5%, falling from $5.2 billion to $4.1 billion over the past week.</li>
 <li>Spot Cumulative Volume Delta (CVD) flipped from +$17.2 million to -$58.8 million. This means aggressive sellers are now outnumbering aggressive buyers even as prices rise.</li>
 <li>Perpetual futures CVD also plunged from $457.5 million to $83.9 million, showing buyers are gradually losing momentum.</li>
</ul>
<p>Glassnode summed up the situation by saying the advance has been driven by “relatively thin liquidity rather than broad-based buying conviction.”</p>
<h2 id="h-retail-traders-stay-cautious" class="wp-block-heading"><strong>Retail Traders Stay Cautious</strong></h2>
<p>Retail sentiment has also started cooling as Bitcoin struggles to stay above $63,000.</p>
<p>The broader crypto market slipped about 1.1%, bringing the total market capitalization to roughly $2.24 trillion. More than $250 million worth of leveraged crypto positions were liquidated over the past 24 hours. Nearly $200 million of that came from long positions.</p>
<p>Meanwhile, futures open interest remained almost unchanged, slipping only slightly from $31.4 billion to $31.3 billion. This suggests traders are holding positions but without strong confidence. Options open interest increased modestly to $28.1 billion. However, it remains below its historical statistical range.</p>
<h2 id="h-altcoins-show-mixed-performance" class="wp-block-heading"><strong>Altcoins Show Mixed Performance</strong></h2>
<p>Major altcoins delivered mixed results during the market pullback.</p>
<ul>
 <li>XRP posted the biggest decline among large-cap cryptocurrencies, falling around 1.5% as retail sentiment shifted from extremely bullish to bearish.</li>
 <li>Ethereum, Solana, BNB, and Dogecoin all declined by less than 1%.</li>
 <li>Ethereum traded near $1,782, with traders closely watching $1,700 as key support and $1,840-$1,850 as the next resistance zone.</li>
</ul>
<p>Crypto analyst Ted Pillow said that as long as Ethereum stays above $1,750, the path toward $2,000 remains open.</p>
<h2 id="h-what-comes-next" class="wp-block-heading"><strong>What Comes Next?</strong></h2>
<p>Glassnode says the next few trading sessions will determine whether buying activity strengthens enough to support the rally.</p>
<p>On-chain analyst Ali Martinez added that whale accumulation has continued since June, with Bitcoin’s Accumulation Trend Score remaining close to 1. However, he warned that after losing the $63,000 mid-range level, Bitcoin could retest support near $61,700. It may do this before attempting another move higher.</p>
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   <p>Bitcoin appears to have been rejected at the top of its channel.<br><br>After losing the $63,000 mid-range, <a href="https://x.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> could now be heading toward the lower boundary near $61,700, which may act as support. <a href="https://t.co/P528eq0AH8" rel="noopener noreferrer nofollow">https://t.co/P528eq0AH8</a><a href="https://t.co/0gZ70LcVUx" rel="noopener noreferrer nofollow">pic.twitter.com/0gZ70LcVUx</a></p>— Ali Charts (@alicharts) <a href="https://x.com/alicharts/status/2076620502047617413?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 13, 2026</a>
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<p>Overall, this week’s CPI and PPI inflation data, possible Strategy (MSTR) Bitcoin accumulation updates, and renewed discussions around the CLARITY Act all could influence market direction.</p>

Bitcoin Price Analysis: Glassnode Flags Weak Demand Behind the Bounce

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