Bitcoin profitability has rebounded from recent lows, but current levels are not strong enough to confirm renewed momentum, according to Glassnode analysis. The cryptocurrency is trading near $111,000, consolidating within the $104,000–$116,000 range after heavy absorption by investors. Short-term holder profitability has recovered to around 60%.

Glassnode noted that Bitcoin is in a neutral but fragile state, with confirmation of renewed momentum only if price reclaims $114k–$116k. The report highlighted Bitcoin’s recent exit from a 3.5-month euphoric phase, now trading between the $104.1k–$114.3k range. Off-chain indicators suggest weakening demand, with spot ETF inflows slowing.

Futures funding rates remain neutral but are trending softer, while daily BTC inflows have fallen. Ethereum markets showed a cooling trend, with traditional finance activity in Ethereum differing from Bitcoin’s demand. The report concluded that profitability recovery alone is not a decisive signal of strength.

Investors have been accumulating in the $108,000–$116,000 range, but reclaiming $114k–$116k would strengthen the bull case. Glassnode warned that a breakdown below $104,000 could lead to a move toward $93,000–$95,000. The report emphasized the importance of price levels in determining market strength.

Read more at Yahoo Finance: Bitcoin Profitability Rebounds But Momentum Stalls At $111,000