Bitcoin Demand Has ‘Considerably’ Slowed Down, Glassnode Report Suggests
Summary
Glassnode's latest report reveals a slowdown in Bitcoin demand. The Realized Cap, tracking capital flow into the cryptocurrency, has shown a less steep trajectory, indicating a considerable decrease in the rate of new capital flowing into the network. The market is digesting the recently distributed supply, leading to lower demand. This is reflected in the Bitcoin Net Realized Profit/Loss graph, which shows a considerable cooling off since the ATH, indicating lower demand in the sector. BTC price reached over $71,000 but has since dropped to $70,200.
