{"id":93321,"date":"2026-01-20T12:16:11","date_gmt":"2026-01-20T09:16:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93321"},"modified":"2026-01-20T14:15:16","modified_gmt":"2026-01-20T11:15:16","slug":"analysts-spot-signs-of-recovery-in-bitcoins-spot-market","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/analysts-spot-signs-of-recovery-in-bitcoins-spot-market\/","title":{"rendered":"Analysts Spot Signs of Recovery in Bitcoin\u2019s Spot Market"},"content":{"rendered":"<p>Glassnode analysts report an improving backdrop in the spot market for the leading cryptocurrency. Trading volumes are rising and selling pressure is easing.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> has pulled back from recent highs of $98K, slipping back into the low-$90Ks. Momentum has cooled but remains above neutral, pointing to consolidation rather than trend deterioration.<\/p>\n<p>Read more in this week\u2019s Market Pulse\ud83d\udc47<a href=\"https:\/\/t.co\/SqtQrQ3D8C\">https:\/\/t.co\/SqtQrQ3D8C<\/a> <a href=\"https:\/\/t.co\/Z5ONm7bXM2\">pic.twitter.com\/Z5ONm7bXM2<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/2013317594342703424?ref_src=twsrc%5Etfw\">January 19, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm recorded a \u201cmodest\u201d pickup in trading activity. The imbalance between buys and sells pierced the upper statistical band. That signals a shrinking supply of coins, even as demand remains \u201cfragile and uneven.\u201d<\/p>\n<p>Specialists reckon the market is consolidating and gradually reconfiguring. Underlying conditions are improving despite traders\u2019 continued defensiveness.<\/p>\n<p>OKX\u2019s Singapore CEO Gracy Lin <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-market-conditions-improving-selling-pressure-reduces-glassnode\">said<\/a> the market has already \u201cdigested\u201d the late-2025 profit-taking. Long-term holders are not selling every bounce, and institutions are buying dips via <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>.<\/p>\n<p>Amid headlines about tariffs and record gold prices, investors are increasingly using bitcoin to hedge portfolios rather than for short-term speculation, Lin added.<\/p>\n<p>Swissblock compared the current set-up with 2022. Declining network activity and liquidity resemble the prior cycle\u2019s conditions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Network growth has hit lows not seen since 2022, while liquidity continues to drain. Back in 2022, similar network levels triggered a <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> consolidation phase as network growth began to recover, even while liquidity remained weak and bottoming out.<\/p>\n<p>History shows that the\u2026 <a href=\"https:\/\/t.co\/24sC3aoyAD\">pic.twitter.com\/24sC3aoyAD<\/a><\/p>\n<p>\u2014 Swissblock (@swissblock__) <a href=\"https:\/\/twitter.com\/swissblock__\/status\/2013336787192578130?ref_src=twsrc%5Etfw\">January 19, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the analysts, history shows that a recovery in these metrics has previously set off large bull rallies.<\/p>\n<p>At the time of writing, the price of the leading cryptocurrency is $91,142.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"624\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-abf273fb8e18fa9a-4116625064801404-1024x624.png\" alt=\"BTCUSDT_2026-01-20_11-30-49\" class=\"wp-image-273652\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-abf273fb8e18fa9a-4116625064801404-1024x624.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-abf273fb8e18fa9a-4116625064801404-300x183.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-abf273fb8e18fa9a-4116625064801404-768x468.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-abf273fb8e18fa9a-4116625064801404.png 1429w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute chart of BTC\/USDT on Binance. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>A 2% daily decline triggered $335 million in liquidations.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"315\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-1bdcb42978667908-4116651303530301-1024x315.png\" alt=\"Screenshot 2026-01-20 113206\" class=\"wp-image-273653\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-1bdcb42978667908-4116651303530301-1024x315.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-1bdcb42978667908-4116651303530301-300x92.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-1bdcb42978667908-4116651303530301-768x236.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-1bdcb42978667908-4116651303530301.png 1369w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coinglass.com\/liquidations\">CoinGlass<\/a><strong>.<\/strong><\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Losses and a slide in sentiment<\/h2>\n<p>CryptoQuant\u2019s head of research, Julio Moreno, noted a key shift in investor behaviour. For the first time since October 2023, bitcoin holders are realizing net losses on a 30-day basis (a trend in place since late December).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin holders realizing losses, for a 30-day period since, late December for the first time since October 2023. <a href=\"https:\/\/t.co\/OGsPYm8714\">pic.twitter.com\/OGsPYm8714<\/a><\/p>\n<p>\u2014 Julio Moreno (@jjcmoreno) <a href=\"https:\/\/twitter.com\/jjcmoreno\/status\/2013437415466115200?ref_src=twsrc%5Etfw\">January 20, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Researcher Axel Adler Jr. <a href=\"https:\/\/axeladlerjr.com\/deleveraging-sentiment-crashed-from-80-to-45-after-205m-long-liquidations\/\">recorded<\/a> a drop in the sentiment index from an extreme 80% to 44.9%. Earlier, around the local high at $97,000, the gauge was in overheated territory.<\/p>\n<p>A move below the neutral 50% mark signals waning risk appetite. In his view, a return above that level is needed to stabilise prices. A further slide toward 20% would increase the likelihood of a deep correction.<\/p>\n<h2 class=\"wp-block-heading\">Gold hits fresh records<\/h2>\n<p>Amid pressure on digital assets, gold crossed $4,700 per ounce for the first time. US futures on the metal also set new records.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-f05b64a43091ab3f-4116685021898192.webp\" alt=\"Screenshot 2026-01-20 114958\" class=\"wp-image-273654\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/goldprice.org\/\">Gold Price<\/a>.<\/figcaption><\/figure>\n<p>Silver reached a new all-time high of $95.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-5de181ee413c66c2-4116702328421612.webp\" alt=\"Screenshot 2026-01-20 115253\" class=\"wp-image-273655\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/goldprice.org\/\">Gold Price<\/a>.<\/figcaption><\/figure>\n<p>The rally in precious metals was spurred by worsening global sentiment after US President Donald Trump threatened to impose new tariffs against European allies if Denmark refused to sell Greenland.<\/p>\n<p>According to Bitfinex, the bitcoin-to-gold ratio has fallen by more than 50% from its peak.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gold just made an ATH of $4700\/oz<\/p>\n<p>This means the <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>\/Gold ratio is down 52% from ATHs.<\/p>\n<p>Last time we were here, BTC went on to outperform gold.<\/p>\n<p>Worth watching this cross as 2026 liquidity builds. <a href=\"https:\/\/t.co\/2K1zpGh4F2\">pic.twitter.com\/2K1zpGh4F2<\/a><\/p>\n<p>\u2014 Bitfinex (@bitfinex) <a href=\"https:\/\/twitter.com\/bitfinex\/status\/2013502682904895837?ref_src=twsrc%5Etfw\">January 20, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe last time at similar levels, the leading cryptocurrency subsequently outperformed the precious metal. It is worth watching this cross as 2026 liquidity builds,\u201d the analysts wrote.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">ETF outflows and risk-off<\/h2>\n<p>US spot bitcoin ETFs ended a four-day streak of $1.8 billion in inflows, recording $394.68 million of net outflows on January 19.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-cb278895e45f2084-4116752226671513.webp\" alt=\"Screenshot 2026-01-20 115607\" class=\"wp-image-273656\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\">SoSoValue<\/a>.<\/figcaption><\/figure>\n<p>Valr CEO Farzam Ehsani <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-30-day-realized-losses-gold-record-high\">linked<\/a> this to the market shifting into \u201crisk reduction\u201d mode. In his words, Mr Trump\u2019s aggressive trade rhetoric and the threat of tariff wars have historically created \u201ca strong headwind\u201d for cryptocurrencies and other risk assets.<\/p>\n<p>Earlier, the analyst known as Darkfost <a href=\"https:\/\/forklog.com\/en\/news\/analysts-observe-a-recovery-in-bitcoin-demand\">noted<\/a> an improvement in the \u201cvisible demand\u201d for the leading cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Glassnode analysts see an improving spot market for bitcoin as volumes rise and selling pressure eases.<\/p>\n","protected":false},"author":1,"featured_media":93322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Glassnode says bitcoin\u2019s spot market is healing as volumes rise and sellers retreat.","creation_source":"ai_translated","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1205,1273,1145],"class_list":["post-93321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptoquant","tag-glassnode","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"135","promo_type":"1","layout_type":"1","short_excerpt":"Glassnode says bitcoin\u2019s spot market is healing as volumes rise and sellers retreat.","is_update":"0","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=93321"}],"version-history":[{"count":2,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93321\/revisions"}],"predecessor-version":[{"id":93334,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93321\/revisions\/93334"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/93322"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=93321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=93321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=93321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}