Bitcoin Remains in ‘Subdued and Low-Conviction Market’ Despite Bounce: Glassnode

Bitcoin remains within a “subdued and low-conviction market environment, with weak spot activity,” reported on-chain analytics provider Glassnode on Wednesday. It added that spot trading volume “remains soft,” noting that with Binance’s 30-day relative volume still sitting below the 1.0 baseline. This highlights a “lack of strong organic demand beneath the recent stabilization in price.” BTC tapped a three-week high …