Glassnode: BTC price falls back to around $110,000, market sentiment turns cautious

ChainCatcher news, according to Glassnode data, BTC rose to $117,000 last weekend but quickly fell back to $111,000, showing increased market volatility. The spot market momentum has weakened, with RSI approaching the oversold region, selling pressure deepening, and trading volume remaining stable.

In the futures market, leverage has decreased, funding rates have risen, and speculative demand shows signs of fatigue. The outflow of funds from U.S.-listed spot ETFs reached $1 billion, with trading volume declining and institutional demand cooling.

On-chain data shows a decrease in daily active addresses and transaction fees, a decline in network utilization, and an increase in transfer volume driven by volatility.