Bitcoin spot market conditions are improving with increased trading volume and decreased sell-side pressure, according to Glassnode analysts. Despite a slight decline, Bitcoin remains up 6% since the beginning of the year. Long-term holders are less likely to sell into rallies, indicating a shift towards viewing Bitcoin as a portfolio hedge rather than a short-term trade.
Swissblock analysts note similarities in Bitcoin network growth and liquidity levels to conditions seen in 2022, which preceded a major bull run. History shows that a subsequent surge in both metrics fueled the bull run. This suggests that the current decline in network growth and liquidity could be precursors to a significant rally.

Read more at Cointelegraph: Bitcoin Spot Market Improves As Sell Pressure Eases