Bitcoin Momentum Builds Near $80K as Short-Term Demand Surges: Glassnode

BitcoinWorld Bitcoin Momentum Builds Near $80K as Short-Term Demand Surges: Glassnode Bitcoin’s price momentum is strengthening near the $80,000 mark, driven by robust short-term demand, according to the latest on-chain data from Glassnode.

As of the most recent report, the cryptocurrency is consolidating in a high-demand zone, with market indicators pointing to sustained buying pressure from short-term holders.

What the On-Chain Data Shows Glassnode’s metrics, which track the behavior of short-term holders (STH), reveal a notable increase in accumulation patterns.

The Spent Output Profit Ratio (SOPR) for short-term holders has remained above 1, indicating that recent buyers are selling at a profit, a sign of market confidence.