Bitcoin's $65K Surge Described as Cautious Amid Weak Liquidity
Glassnode analysts have described Bitcoin's recent surge to around $65,000 as 'cautious'.
Citing corporate demand and ETF inflows, Glassnode notes that investor appetite for BTC has increased, but spot liquidity and off-chain activity remain weak.
The firm believes that future market direction will be determined by the pace of ETF flows and participation in spot markets.