Glassnode: Bitcoin's Bottom Not Yet Confirmed as Correction Enters Final Phase

According to Glassnode's latest weekly report, Bitcoin's market bottom has not yet been confirmed despite showing characteristics of late-stage correction. The leading on-chain analytics firm noted that while Bitcoin's decline to $60,000 cleared excessive speculative demand and triggered major liquidations, the strong spot buying necessary to form a healthy bottom has not yet emerged.

Glassnode highlighted that institutional investor participation has weakened significantly, with companies purchasing Bitcoin for balance sheet purposes slowing their acquisitions. The firm emphasized that historically low valuation zones alone are insufficient to confirm a market bottom, which also requires renewed investor confidence and a surge in spot market demand.