Glassnode Says Bitcoin Decline Is Due To Weak Spot Demand, Here Is What It Means

Bitcoin’s (BTC) bearish price action and steep declines over the past month of its trading can be attributed to weaknesses in its spot demand, as revealed by data reports from Glassnode 

Meanwhile, the ETFSwap (ETFS) DeFi token, selling at $0.01831 in its viral ICO, is forecasted by veteran analysts to surge 9,000% in the coming weeks, as its spot demand data from Glassnode show it to be at its highest peak. 

Bitcoin (BTC) Could Plunge Further With Weaknesses In Spot Demand

Top market intelligence firm Glassnode recently analyzed Bitcoin (BTC) Cumulative Volume Data (CVD) to estimate the current net balance between buying and selling in the BTC spot market. Glassnode data reports on Bitcoin (BTC) spot demand showed consistent net-sell side pressure from when it broke $70,000 and hit all-time highs in March 2024.

Bitcoin (BTC) trading at $59,200 could experience further downward momentum after Glassnode data revealed BTC has a negative CVD, indicating weakness in its spot demand in the crypto markets. However, despite Bitcoin’s (BTC) choppy price action, which has affected the price growth of several cryptocurrencies in the crypto markets, the ETFSwap (ETFS) ICO token trades among top gainers as Glassnode data reveal a massive demand for its viral presale token.

ETFSwap (ETFS) Set To Rally 9,000% As Glassnode Reveals Surge In Demand For Presale Token

ETFSwap (ETFS) viral ICO offered at a cheap $0.01831 is almost sold out as data reports from top market intelligence firm Glassnode reveal massive demand for the ETFS token touted by analysts to surge 9,000% when it launches in the coming weeks. 

ETFSwap (ETFS) guarantees the best pathway to make life-changing gains in the crypto markets through its ultra-modern DeFi platform that allows smart ETF traders and investors to seamlessly tokenize their real-world assets (RWA) and trade them on-chain. Smart crypto investors get settlements of their tokenized funds and investment profits at lightning speeds when they request redemption on the DeFi platform. 

The DeFi platform is open 24/7 and allows small traders and investors to become crypto millionaires when they trade its high ROI tokenized ETFs. Some tokenized ETF investments that investors can leverage to make life-changing money include commodity, leveraged, market, spot Bitcoin, spot Ethereum, equity, and bond ETFs, among others. Smart crypto investors and traders can use a 100x leverage to trade these tokenized ETFs on the  DeFi platform and scale returns up to 50,000%. They can also trade futures and perpetual contracts of volatile and high ROI cryptocurrencies such as Bitcoin (BTC) on the DeFi platform. 

Some unique perks of the ETFSwap (ETFS) DeFi platform include its AI-powered tools, mouthwatering trading discounts, low trading fees, and ETF staking functionality. ETFSwap (ETFS) users can stake their tokenized ETFs and no provide liquidity to the DeFi platform to earn passive income and rewards of up to 87% APR in staking yields. Smart crypto traders and investors can also swap multiple cryptocurrencies in DeFi mode. The DeFi platform provides crypto users with real-time and updated coverage of the crypto markets. They also get customizable trading tools and strategies tailored to their investment needs.  

ETFSwap (ETFS) ranks among the top 5 DeFi platforms in the industry that are the most secure. Its DeFi platform smart contracts are audited by top global security firm CyberScope, which report it as free of vulnerabilities and malware attacks. The team has also completed KYC with SolidProof to back their authenticity.

Conclusion 

ETFSwap (ETFS) viral presale token selling at $0.01831 is the next big thing in the crypto industry that is programmed to melt faces with a 9,000% rally after Glassnode data reports revealed its spot demand to surpass Bitcoin (BTC) 

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

The post Glassnode Says Bitcoin Decline Is Due To Weak Spot Demand, Here Is What It Means first appeared on BTC Wires.

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