| Mobile Web

Bitcoin tussles near $60,000 as selling pressure clashes with long-term holder support

Bitcoin has shown recent weakness, with broader market indicators pointing to strong selling pressure, Glassnode said in a weekly report. Spot market data showed aggressive selling, while futures and options markets reflected caution as open interest and positioning fell. Volatility measures and skew suggested increased demand for downside protection. Bitcoin spot ETFs saw weekly outflows of $1.4 billion, though trading volume surged. Some on-chain metrics rose, and long-term holder support remained intact.