{"id":636122,"date":"2024-08-17T13:00:09","date_gmt":"2024-08-17T13:00:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=636122"},"modified":"2024-08-17T08:39:01","modified_gmt":"2024-08-17T08:39:01","slug":"bitcoin-market-is-facing-a-net-sell-side-bias","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-market-is-facing-a-net-sell-side-bias\/","title":{"rendered":"Bitcoin Market Facing A Persistent Net Sell-Side Bias, Glassnode Reveals"},"content":{"rendered":"

Following a tumultuous start to the month, the cryptocurrency market has yet to shake off the early August blues. The story has not been very much different for the price of Bitcoin, which struggled to make an impact in the past week.<\/span><\/p>\n

With BTC\u2019s price almost 20% adrift of its all-time high of $73.737, there have been increased calls for the premier cryptocurrency to return to the bull market<\/a>. Interestingly, a recent on-chain observation shows that Bitcoin has witnessed substantial bearish pressure in the past two years.<\/span><\/p>\n

Bitcoin Spot CVD Persists In The Negative \u2014 What Does This Mean?<\/strong><\/h2>\n

In a recent post on the X platform, blockchain data company Glassnode revealed<\/a> that the Bitcoin spot market has been experiencing a net-sell side bias over the past two years. This on-chain observation is based on the Spot Cumulative Volume Delta (CVD) indicator, which measures the net difference between buying and selling trade volumes.\u00a0<\/span><\/p>\n

Related Reading: MATIC Set For Rebranding In Early September: Will Polygon Prices Recover After Sinking 65%?<\/a><\/div>\n

The Spot CVD metric is used by investors to assess the current market sentiment. It offers detailed insight into whether the bulls or bears are the dominant market participants. Typically, a positive Cumulative Volume Delta value implies more buying pressure in the market, while a negative value suggests that the sellers are in control<\/a>.<\/span><\/p>\n

\"Bitcoin\"
A chart showing BTC Spot CVD | Source: Glassnode\/X<\/a><\/figcaption><\/figure>\n

According to the latest data from Glassnode<\/a>, the yearly median CVD value has been bouncing between -$22 million and -$50 million over the past two years. This trend suggests a net sell-side bias, with selling volume overshadowing buying volume in the spot market for some time now.<\/span><\/p>\n

While the persistence of a net-sell side bias suggests investors offloading their coins rather than accumulating, it does not necessarily imply a bearish condition<\/a> for the Bitcoin market. It rather spotlights a cautious approach by the investors, with an overall decline in spot demand of BTC.<\/span><\/p>\n

Although it is difficult to say how the spot Cumulative Volume Delta will shift over the coming months, the metric is one that investors should look out for. This is especially relevant because a return of CVD to positive values could signal an increase in Bitcoin spot market demand, which could be favorable for the Bitcoin price.<\/span><\/p>\n

BTC Price At A Glance<\/strong><\/h2>\n

As of this writing, the price of Bitcoin<\/a> is slightly above the $59,000 mark, having increased by more than 2.5% in the past 24 hours. This recent momentum, though, is not enough to wipe off the coin\u2019s loss on the weekly timeframe. According to data from CoinGecko, the Bitcoin price is down by more than 2% in the past week.<\/span><\/p>\n

Related Reading: Cardano Sees Massive 150% Volume Surge, Yet ADA Price Stalls With 4% Decline<\/a><\/div>\n
\"Bitcoin\"
The price of Bitcoin on the daily timeframe | Source: BTCUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Following a tumultuous start to the month, the cryptocurrency market has yet to shake off the early August blues. The story has not been very much different for the price of Bitcoin, which struggled to make an impact in the past week. With BTC\u2019s price almost 20% adrift of its all-time high of $73.737, there have been increased calls for the premier cryptocurrency to return to the bull market. Interestingly, a recent on-chain observation shows that Bitcoin has witnessed substantial bearish pressure in the past two years. Bitcoin Spot CVD Persists In The Negative \u2014 What Does This Mean? In a recent post on the X platform, blockchain data company Glassnode revealed that the Bitcoin spot market has been experiencing a net-sell side bias over the past two years. This on-chain observation is based on the Spot Cumulative Volume Delta (CVD) indicator, which measures the net difference between buying and selling trade volumes.\u00a0 Related Reading: MATIC Set For Rebranding In Early September: Will Polygon Prices Recover After Sinking 65%? The Spot CVD metric is used by investors to assess the current market sentiment. It offers detailed insight into whether the bulls or bears are the dominant market participants. Typically, a positive Cumulative Volume Delta value implies more buying pressure in the market, while a negative value suggests that the sellers are in control. According to the latest data from Glassnode, the yearly median CVD value has been bouncing between -$22 million and -$50 million over the past two years. This trend suggests a net sell-side bias, with selling volume overshadowing buying volume in the spot market for some time now. While the persistence of a net-sell side bias suggests investors offloading their coins rather than accumulating, it does not necessarily imply a bearish condition for the Bitcoin market. It rather spotlights a cautious approach by the investors, with an overall decline in spot demand of BTC. Although it is difficult to say how the spot Cumulative Volume Delta will shift over the coming months, the metric is one that investors should look out for. This is especially relevant because a return of CVD to positive values could signal an increase in Bitcoin spot market demand, which could be favorable for the Bitcoin price. BTC Price At A Glance As of this writing, the price of Bitcoin is slightly above the $59,000 mark, having increased by more than 2.5% in the past 24 hours. This recent momentum, though, is not enough to wipe off the coin\u2019s loss on the weekly timeframe. According to data from CoinGecko, the Bitcoin price is down by more than 2% in the past week. Related Reading: Cardano Sees Massive 150% Volume Surge, Yet ADA Price Stalls With 4% Decline Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":541188,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,679,1119,78790,61309],"class_list":["post-636122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusdt","tag-glassnode"],"acf":[],"yoast_head":"\nBitcoin Market Facing A Persistent Net Sell-Side Bias, Glassnode Reveals<\/title>\n<meta name=\"description\" content=\"Blockchain data company Glassnode revealed that the Bitcoin spot market has been experiencing a net-sell side bias over the past two years.\" \/>\n<meta name=\"robots\" content=\"index, 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/ktsl888.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Market Facing A Persistent Net Sell-Side Bias, Glassnode Reveals","url":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-market-is-facing-a-net-sell-side-bias\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-market-is-facing-a-net-sell-side-bias\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/07\/iStock-1356804795.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/07\/iStock-1356804795.jpg?fit=1254%2C836"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusdt","glassnode"],"dateCreated":"2024-08-17T13:00:09Z","datePublished":"2024-08-17T13:00:09Z","dateModified":"2024-08-17T13:00:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Market Facing A Persistent Net Sell-Side Bias, Glassnode Reveals\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-market-is-facing-a-net-sell-side-bias\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-market-is-facing-a-net-sell-side-bias\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1356804795.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1356804795.jpg?fit=1254%2C836\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusdt\",\"glassnode\"],\"dateCreated\":\"2024-08-17T13:00:09Z\",\"datePublished\":\"2024-08-17T13:00:09Z\",\"dateModified\":\"2024-08-17T13:00:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/07\/iStock-1356804795.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/636122"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=636122"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/636122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/541188"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=636122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=636122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=636122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}