Bitcoin Holds Near $65K, But Glassnode Says Full Uptrend Not Yet Confirmed

BitcoinWorld Bitcoin Holds Near $65K, But Glassnode Says Full Uptrend Not Yet Confirmed Bitcoin has stabilized around the $65,000 mark after rebounding from a late-June low near $58,000, but on-chain analytics firm Glassnode cautions that it is still unclear whether the market has fully shifted into an uptrend.

While active spot market buying has risen sharply, broader exchange trading volumes remain subdued, indicating that aggressive demand has returned but widespread participation has not yet expanded.

Mixed Signals in Derivatives and Options Markets In the derivatives market, Glassnode observed that aggressive directional trading has increased, with taker activity in perpetual futures moving above its statistical upper range.

However, open interest and funding rates have not risen excessively, suggesting that leverage is increasing but not yet at overheated levels. Meanwhile, in the options market, the cost of downside protection has declined, signaling that investors’ near-term caution is easing.