Bitcoin Slips to $74,000 in Week 22 as Trading Activity Cools and Long Demand Rebounds
Updated
Updated · Glassnode Insights · May 25
Bitcoin Slips to $74,000 in Week 22 as Trading Activity Cools and Long Demand Rebounds
4 articles · Updated · Glassnode Insights · May 25
$79,000-to-$74,000 price action defined Bitcoin’s week before a rebound toward $77,000, while momentum fell 21.7%, signaling softer gains and a market shifting into consolidation.
Spot volume dropped 10% and futures open interest fell 3.5%, pointing to weaker speculative appetite even as spot and perpetual CVD rose 77.2% and 35.5%, suggesting selling pressure is easing.
Longside funding payments jumped 135.4%, showing renewed demand for bullish exposure, but 25-delta skew edged higher, indicating traders still want more downside protection.
US spot ETF netflows improved 28.9% and ETF MVRV rose 0.69%, although ETF trading volume fell 22.9%, reinforcing a picture of stabilizing sentiment without a broad return of risk-taking.
On-chain activity and profitability metrics stayed soft, with fewer active addresses, lower transfer volume and weaker unrealized and realized profit-loss ratios, leaving Bitcoin in a cautious, higher-conviction holding phase.
With funding rates bullish but profit-taking high, is Bitcoin preparing for a major rally or a sharp correction?
Are on-chain metrics becoming obsolete as institutional ETF flows increasingly dictate Bitcoin's price?
As Wall Street giants launch Bitcoin ETFs, will their influence stabilize the market or introduce new systemic risks?