According to Foresight News, Glassnode’s latest report reveals a mixed scenario in on-chain data for the cryptocurrency market. The Relative Strength Index (RSI) is moving toward a neutral zone, while the spot Cumulative Volume Delta (CVD) shows improvement; however, trading volume has declined. Futures open interest has seen a slight increase, whereas funding rates have decreased. Options skew remains elevated, indicating that traders are incurring higher costs for downside hedging. Additionally, investment momentum in Exchange-Traded Funds (ETFs) has slowed, accompanied by weak overall trading volume. On-chain analysis provides data on blockchain transactions and activities within the crypto market, helping investors and analysts gauge market direction and potential trends. The mixed signals suggest a lack of a clear market trend, with investors adopting a cautious stance. The slowdown in ETF investments and reduced trading volumes point to diminished market sentiment, potentially leading to short-term price uncertainty. In this environment, it is essential for investors to formulate strategies carefully while considering possible risks.
Source: binance
