BEARISH 📉 : Bitcoin Slumps to $72,000 Amid Growing Market Weakness

Blockchain analytics firm Glassnode reports a series of warning signals for Bitcoin (BTC) as it falls back to the $72,000 level. The analysis points to concerns about near-term stability due to structural and behavioral indicators aligning around a defensive market phase.

Shift Toward Deeper Bear Phase

The breakdown of the True Market Mean indicates deterioration since last November, resembling early-2022's shift into a bear market.
Weak buyer follow-through and persistent selling pressure suggest a fragile market balance.
Bitcoin's price is confined within a broad range, with former support at $80,200 now acting as resistance.
The Realized Price at $55,800 marks where long-term capital historically re-enters.

Key Bitcoin Demand Zones

UTXO Realized Price Distribution shows accumulation by new participants between $70,000 and $80,000.
A dense supply zone between $66,900 and $70,600 could act as a shock absorber against selling pressure.

Glassnode concludes that Bitcoin is in a defensive regime, with on-chain and off-chain indicators pointing towards bearish trends. Profitability metrics indicate eroded unrealized gains, and realized losses are climbing as investors reduce exposure. Thin spot liquidity complicates rally efforts.

The key variable remains spot demand; without strong buyer return and inflows, Bitcoin is vulnerable to further downside.
A recovery will require time, market absorption, and renewed confidence.

Currently, Bitcoin is trading at approximately $73,099, an 18% weekly retracement.