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

By Clark

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
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crypto
millionaires
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they
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ROI
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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

Clark

Head
of
the
technology.