Glassnode Warns of BTC “Demand Exhaustion”

[cryptohog]

Bitcoin is struggling to stay above $117K, trading near $110,840 (≈5% below the key level), per CoinMarketCap.

Glassnode notes that without a new catalyst, BTC risks sliding deeper:

“Historically, when price fails to hold this zone, it has often preceded prolonged mid- to long-term corrections.”

The on-chain firm pointed to rising profit-taking among long-term holders, a sign of possible demand exhaustion.

[alex10]

On-chain data hinting at demand slowdown could signal a short-term correction phase.

[Nahid10]

Bitcoin’s consolidation might just be a pause before the next major accumulation wave.