Bitcoin’s spot market is showing some initial signs of recovery, as evidenced by higher trading volume and a drop in sell, side pressure, say analysts at Glassnode. Following a 3% dip from its weekend peak of $95, 450, Bitcoin is still 6% higher than it was at the start of the year, with the current price hovering around $92, 550.
According to Glassnode, spot Bitcoin trading volume has experienced a “modest” increase, while the net buy-sell imbalance has risen above the upper statistical band, thus indicating a significant decline in sell-side pressure. Nevertheless, spot demand is still “fragile and uneven”.
This pattern implies that long-term holders are now less inclined to sell at each rally, whereas institutional investors are buying pullbacks via ETFs.
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Gracie Lin, CEO OKX Singapore, thinks that the market has basically digested the late, 2025 profit, taking and that sell, side pressure is now lessening. It would seem that institutions are increasingly seeing Bitcoin as a way to hedge their portfolio, which is mainly because of the recent tariff headlines, weaker growth signals in APAC, and gold prices reaching an all, time high.
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The decline of the Bitcoin network growth and liquidity, according to analysts at Swissblock, is pushing the market into a situation that is similar to 2022, when the first half really squeezed out liquidations and triggered a consolidation phase followed by a major bull run.
If history repeats itself, the current liquidity decline could be a precursor to a rally. Investors seeking to capitalise on the situation should monitor liquidity and network growth as the market recovers, looking for signs of a potential rally.
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BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate. BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more
