Bitcoin’s Dramatic Cooling: Is the Crypto Party Over? 🍾😱

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So, here we are, folks! Glassnode, the crypto analytics wizards, have declared that Bitcoin (BTC) is officially in a “cooling phase.” You know, like that awkward moment when the party’s still going, but the DJ has just played “Wonderwall” for the third time. 🎶

According to our friends at Glassnode, retail participation is softening faster than my resolve at a dessert buffet. Apparently, the Spot Cumulative Volume Delta (CVD) has decided to take a little vacation and is now turning bearish. Who knew indicators could be so moody? 😒

Now, the Spot CVD is like that friend who always knows when to buy and sell, but right now, it’s just sitting there, scrolling through Instagram. A rise means everyone’s feeling bullish, but a fall? Well, that’s just a sad face emoji waiting to happen. 😢

Glassnode explains,

“Spot market signals weakened across the board, momentum fell back toward neutral, spot CVD turned sharply negative, and volume dipped below the statistical low band…”

“…the sharp reversal in perpetual CVD suggests short-term traders may be trimming risk.”

Meanwhile, there’s been a spike in inflows to Bitcoin exchange-traded funds (ETFs), which is great! But it seems like organic on-chain activity is as lively as a sloth on a Sunday. Falling fees, no growth in active addresses, and only a moderate transfer volume? Yikes! 😬

“ETF flows rose sharply, reaffirming institutional demand, though trade volume declined, showing more passive accumulation than active trading.”

And here’s the kicker: about 97% of Bitcoin’s supply is currently sitting pretty at a profit. But hold your horses! This could lead to a sell-off faster than you can say “HODL” if demand doesn’t pick up. 😱

“Without renewed demand from both retail and institutional investors, the current cooling momentum may persist.”

As of now, Bitcoin is trading at $104,457, which is down about 7% from its all-time high of $111,800. So, if you were hoping for a wild ride, it looks like we’re stuck in traffic. 🚦

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2025-06-19 23:06