Bitcoin Taps $69K on Thin Volume, Rebound Needs Confirmation

Bitcoin (BTC) reclaimed the $69,000 level on thin volume as the Glassnode weekly report published Apr. 6 showed that spot exchange volume and on-chain activity declined even as price momentum improved sharply.

The analytics firm's weekly market pulse rated spot, futures, options, and ETF indicators as rising at moderate intensity while on-chain fundamental and capital flow metrics were declining.

On the spot side, the 14-day RSI jumped 62% from 30.3 to 49.1, and Spot CVD flipped from negative $47.8 million to positive $27.9 million, pointing to renewed buying pressure.

However, centralized exchange volume dropped 13% from $6.1 billion to $5.3 billion, a sign that fewer participants are backing the move higher.