📉 Market Analysis Calm Decline in Progress
Although #BTC dropped by 3.2% and #ETH by 6%, Glassnode data reveals the following:
✅ Executed liquidity remains relatively low
• BTC: around $110 million
• ETH: around $132 million
✅ No signs of a leverage-driven crash
• Open Interest shows only moderate withdrawals
• No evidence of mass liquidation cascades
🧠 What does this mean
This drop appears to be caused by spot selling from real holders, not by forced liquidations from leveraged positions
💡 Conclusion
The market is still controlled by spot players rather than leveraged traders, indicating a relatively stable underlying structure
