{"id":7515,"date":"2025-08-12T07:46:22","date_gmt":"2025-08-12T07:46:22","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-momentum-stalls-as-on-chain-data-shows-profit-taking-pressure-glassnode\/"},"modified":"2025-08-12T07:46:26","modified_gmt":"2025-08-12T07:46:26","slug":"bitcoin-momentum-stalls-as-on-chain-data-shows-profit-taking-pressure-glassnode","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-momentum-stalls-as-on-chain-data-shows-profit-taking-pressure-glassnode\/","title":{"rendered":"Bitcoin momentum stalls as on-chain data shows profit-taking pressure: Glassnode"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin\u2019s charge toward record highs has stalled, with sellers regaining control as profit-taking pressure builds despite signs of renewed market momentum.<\/p>\n<div id=\"cn-block-summary-block_14d77458550479d7e84f8e85e3d3e3d1\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin retreated to $118,782 after nearing its $122,867 all-time high on Aug. 11.<\/li>\n<li>Glassnode data shows rising momentum across spot, futures, options, and on-chain activity, but also elevated profit-taking risk.<\/li>\n<li>Technicals point to strong $116K\u2013$117K support, with a close above $122.5K needed for fresh highs.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Bitcoin\u2019s (BTC) rally toward a new all-time high faltered after touching $122,232 on Aug. 11, with the price retreating to $118,782 at press time, down about 3% in the past 24 hours. The move came after a brief recovery from the $112,000 zone, which had pushed BTC back near record territory before sellers reasserted pressure.<\/p>\n<h2 class=\"wp-block-heading\">Glassnode: BTC momentum returns, but risk remains<\/h2>\n<p>According to Glassnode\u2019s Aug. 11 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/insights.glassnode.com\/btc-market-pulse-week-33\/?utm_source=X&amp;utm_medium=social&amp;utm_campaign=market_pulse\" target=\"_blank\">analysis<\/a>, market momentum is improving, but there is a growing risk of profit-taking. In the spot market, the relative strength index rose from 41.5 to 47.5, bouncing from oversold conditions. <\/p>\n<p>Spot cumulative volume delta shifted from heavy selling to near-neutral territory, while spot trading volume fell 22% to $5.7 billion, suggesting the recent rebound has not yet attracted broad participation.<\/p>\n<p>In derivatives, futures open interest eased to $44.1 billion, with long-side funding rates still elevated but slightly lower than last week. Perpetual cumulative volume delta improved to -$0.2 billion, indicating more aggressive buy-side activity. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Options open interest increased 6.7% to $42.4 billion, while the volatility spread contracted sharply to 10.45%, near its lower band, a sign that traders may be pricing in too little volatility. The 25-delta skew eased but stayed above its high band, reflecting continued demand for downside hedges.<\/p>\n<p>Exchange-traded fund flows also improved, with outflows shrinking by more than half, although trading volumes dropped 27.7% to $13.7 billion. ETF MVRV rose to 2.43, meaning funds are holding significant unrealized gains, which could encourage selling. <\/p>\n<p>Glassnode concluded that the market has shifted from seller exhaustion to a strong rebound near recent highs. However, it warned that elevated profitability, with 94.1% of supply in profit, combined with a realized profit\/loss ratio of 1.9, suggests profit-taking could quickly reverse sentiment.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin technical analysis<\/h2>\n<p>Bitcoin\u2019s daily chart shows price retreating from the upper Bollinger Band after testing $122,000 resistance. While momentum and MACD indicators point to a buy, indicating underlying support, the RSI is at 58, which is neutral but leaning toward bullish territory.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Bitcoin daily chart. Credit: crypto.news<\/figcaption><\/figure>\n<p>All of the short-term moving averages (10, 20, 30, and 50-day) are still above $116,000 and in a bullish formation, supporting the $116,000\u2013$117,000 range as a crucial support. A close above $122,500 could pave the way for new highs, while a break below this range might see Bitcoin return towards the $112,000 mark.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s charge toward record highs has stalled, with sellers regaining control as profit-taking pressure builds despite signs of renewed market momentum. Summary Bitcoin retreated to $118,782 after nearing its $122,867&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=7515"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7515\/revisions"}],"predecessor-version":[{"id":7516,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7515\/revisions\/7516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/7151"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=7515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=7515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=7515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}