Bitcoin's Market Momentum Shows Strong Bullish Sentiment

On April 14, glassnode released its weekly market insights, highlighting a 51.7% increase in Bitcoin's price momentum, surpassing previous highs. According to BlockBeats, this surge indicates a significant strengthening of spot buying power and market support. Meanwhile, Bitcoin futures open interest continues to rise, and options delta skew suggests a reduction in bearish bias. Combined with a cooling of on-chain activity, these factors imply a consolidation phase with improved sentiment. glassnode noted that market pressure has eased from a profitability perspective. Overall, various indicators collectively suggest a robust bullish sentiment, increased investor participation, and enhanced risk appetite, despite signs of caution and market stabilization.