Bitcoin momentum strengthens near $80K amid strong short-term demand — Glassnode

• Bitcoin climbed from roughly $63,000 to nearly $80,000, breaking its previous range amid stronger spot buying and deeper liquidity.
• Spot CVD jumped 2,253.5% to $275.5 million, signaling aggressive buying pressure across centralized exchanges.
• BTC is in a constructive phase, with muted macro capital inflows pointing to short-term price activity rather than a longer-term shift.

Bitcoin’s (BTC) surge from roughly $63,000 to nearly $80,000 last week indicates that the top crypto has broken decisively out of its prior range, with the rally supported by aggressive spot buying and expanding trading activity.

Bitcoin spot demand strengthens price momentum

The deeper liquidity points to “meaningful capital deployment rather than thin-market price action,” according to a Glassnode report on Monday.

Price momentum rose 63.5% over the week to 82.5 from 50.5. Glassnode shared that the reading was above the upper statistical threshold of 65.9, indicating “overheated price action and potential overbought conditions.”

“This aggressive upward trajectory signals intense short-term demand and a notable shift in market sentiment,” Glassnode wrote.

Spot demand also skyrocketed, with spot Cumulative Volume Delta (CVD) jumping 2,253.5% from negative $12.8 million to a positive $275.5 million.

The reversal reflected “aggressive buying pressure across centralized venues,” with the latest reading well above the upper statistical band of $58.9 million. The report highlighted the reversal as a “robust directional conviction from active market participants.”

Spot trading volume also increased 154.1% during the week, rising from $3.1 billion to $7.9 billion. Glassnode described the increase as a confirmation that recent market participation was supported by stronger liquidity.

Derivatives markets signal rising speculative demand

Bitcoin's derivatives market also saw a notable shift. Futures open interest rose 6.2%, moving from $33.3 billion to $35.3 billion as capital returned to active derivative positions.

Glassnode shared that the figure was near the upper statistical boundary, signaling “heightened speculative appetite and growing leverage.”

Perpetual CVD recorded an even larger reversal compared to spot, jumping 13,258.4% from negative $13.6 million to $1.8 billion. Glassnode stated that the move showed “aggressive market participants drove persistent volume.”

On the institutional side, US spot Bitcoin exchange-traded funds (ETFs) saw activity strengthen as large investors returned to buying. Weekly net flows surged from $53.8 million to $1.9 billion, as weekly ETF trading volume also rose from $7 billion to $22.1 billion.

Glassnode pointed to the acceleration as “heightened speculative participation” and stronger TradFi responsiveness to spot ETF products.

Onchain activity also accelerated, with daily active addresses and entity-adjusted transfer volume increasing. Investor profitability improved, while more supply moved into profit, suggesting spending behavior was shifting toward profit-taking.

Glassnode linked the advance to stronger network activity and profitability, further supporting the broader market structure.

Bitcoin now appears to be in a more active and constructive phase, with demand strengthening across spot, derivatives and ETFs. However, Glassnode cautioned that muted macro capital inflows suggest the expansion remains driven by short-term positioning rather than long-term capital.

BTC is trading at $80,440, up 4% in the past 24 hours at the time of writing.