glassnode: Bitcoin Spot and Derivatives Market in Sync, Strong Bullish Sentiment in the Market

BlockBeats News, April 14th, glassnode published its weekly market outlook pointing out that Bitcoin's price momentum surged by 51.7%, breaking through the previous high, reflecting a significant increase in spot buying pressure, indicating a strengthening market buying support. On the other hand, Bitcoin futures open interest continued to rise, option Delta skewness showed a moderation of bearish bias, combined with a cooling of on-chain activity, suggesting the current phase is consolidation with improved sentiment.

glassnode stated that from a profitability perspective, market pressure has eased. Overall, all indicators collectively indicate that the market is showing strong bullish sentiment, increased investor participation, and enhanced risk appetite, although there are also signs of cautious sentiment and the market tending towards stability.