Is the Danger Over After Bitcoin’s Drop? Glassnode Explains Two Major Pressures

Glassnode, an on-chain analytics company, stated in its weekly Bitcoin report published today that ETF outflows and weak spot demand are putting pressure on the price. According to the company, while some leveraged positions have been cleared, market fragility persists. The report, which examined data up to the close of trading on November 8, stated that Bitcoin finished the week at approximately $74,760. This represents a 4.5% loss compared to the previous Sunday's close of $78,280. Bitcoin briefly rose above $80,000 on Wednesday, but failed to maintain that momentum.