๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ ๐ฎ๐ท๐ผ๐ฟ ๐๐๐๐ฒ๐ฟ๐ ๐จ๐ป๐บ๐ฎ๐๐ธ๐ฒ๐ฑ: ๐๐น๐ฎ๐๐๐ป๐ผ๐ฑ๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐น๐ ๐ช๐ต๐ผ'๐ ๐๐ฟ๐ถ๐๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ฅ๐ฎ๐น๐น๐
Bitcoinโs climb back to $105,787 highs is being powered by spot-driven demand, according to new on-chain data from Glassnode.
Whoโs Buying Bitcoin?
โ Spot ETFs and major exchanges like Coinbase are leading the buying wave
โ Strong accumulation on-chain and off-chain since BTC bottomed near $75K on April 9
โ Short squeeze liquidated bears and fueled rapid upside moves
Despite profit-taking by recent buyers now rising above historical averages, Glassnode says more pressure is still needed to exhaust this demand.
Coinbase & Binance See Dip Buying
โ Coinbase sees strong net buying flows
โ Binanceโs sell pressure is easing
โก๏ธ This shows classic "buy the dip" activity dominating both platforms
Meanwhile, ETF inflows have cooled from $389M/day (April 25 peak) to $58M/day, but the demand remains spot-driven overall.
Bitcoinโs Next Move? Key Support at $93Kโ$95K
Bitcoin is currently consolidating between $100,703 and $105,787.
Key support now lies at $93Kโ$95K, where heavy accumulation has taken place in the past 30 days.
This range aligns with the short-term holder cost basis, making it a potential demand zone if the market dips.
