Bitcoin Tries to Break Higher but Smart Money Is Still Hedging: What’s Next?

Glassnode’s latest Market Pulse highlights a mixed backdrop: trading volumes improved and short-term momentum picked up, yet deeper structural indicators reflect hesitation, softer risk appetite, and a clear preference for downside protection. Realized Cap Change: Momentum Improves but Confidence Lags The Realized Cap Change chart shows a modest uptick, aligning with Bitcoin’s recent bounce. source: https://www.ethnews.com/bitcoin-tries-to-break-higher-but-smart-money-is-still-hedging-whats-next/