Glassnode and Expert Analysts Evaluate Bitcoin: What’s the Current Situation? What Do the Data and the Current Recovery Tell Us?
Following positive news from the US and Iran, Bitcoin recovered from around $60,000 and rose above $66,000 during the day.
While predictions of further declines and a potential bottom for Bitcoin continue, analysts have shared their updated analyses.
Buying Has Returned in Bitcoin, Price is Rising!
According to Glassnode analysts, buying pressure has returned to $BTC following the recent price correction, and $BTC has entered a stabilization phase around $65,000.
Glassnode, an on-chain analytics firm, notes in its latest analysis that buying pressure has returned to Bitcoin and the broader market following the recent price correction.
The firm’s Accumulation Trend Score, an indicator that tracks whether investors are accumulating crypto assets, is showing an upward trend across various investor groups.
According to Glassnode, this surge in data indicates that various investors began buying $BTC after the price dropped to $60,000.
Analysts also reported that Bitcoin has successfully recovered and that large options positions are currently concentrated around $65,000.
Analysts noted that with the price entering this zone, options investors’ hedging transactions could positively impact the market and help it stabilize after a period of high volatility.
What is the Source of the Recent Rise?
Besides Glassnode, CryptoQuant analyst Axel Adler also offered a recent assessment. According to on-chain analyst Axel Adler, Bitcoin’s jump to the $60,000 level was due to renewed buying pressure, not the closing of short positions.
In a blog post, Adler explained that the buyer/seller ratio was higher than one on eight of the last ten days, and funding rates remained positive for ten consecutive days.
Although selling pressure dominated during the recent decline, the analyst noted that the ratio has averaged 1.03 since June 6th, indicating a revival in purchasing power.
However, Adler cautioned that positive funding rates mean an increase in long position leverage. He stated that a moderately positive rate is acceptable, but a sharp rise without corresponding demand could be temporary and leave the market vulnerable again.
He stated that for the rebound to be sustainable, buying pressure and funding rates need to increase together and in a balanced manner.
What’s Needed for Bitcoin’s Rise?
Finally, CryptoQuant analyst XWIN Japan stated in his analysis that capital flows, rather than the cyclical calendar, will be more important for the Bitcoin market in the coming period. Inflows into spot ETFs, expanding stablecoin liquidity, and whether companies continue to accumulate Bitcoin could be key variables determining the direction of $BTC and the broader market in 2026.
*This is not investment advice.