BTC Market Pulse: Week 50

insights.glassnodePublished on 2025-12-08Last updated on 2025-12-08

Abstract

BTC's market pulse showed mixed signals in Week 50. Momentum strengthened as the 14-day RSI rose to 58.2 and spot volume increased 13.2% to $11.1B. However, Spot CVD weakened significantly, indicating stronger underlying sell pressure. Derivatives remained cautious with lower futures open interest and mixed options sentiment, including a high demand for downside protection. ETF flows turned negative, shifting from a $134.2M inflow to a $707.3M outflow, suggesting profit-taking or reduced institutional interest. Despite this, ETF trade volume rose 21.33% and ETF MVRV increased, pointing to higher holder profitability and potential distribution.

Momentum firmed as the 14-day RSI climbed from 38.6 to 58.2, while spot volume rose 13.2 percent to $11.1B. However, Spot CVD weakened from -$40.8M to -$111.7M, pointing to stronger underlying sell pressure.

Derivatives remained cautious. Futures open interest fell to $30.6B, perpetual CVD improved slightly, and funding turned more supportive with long-side payments up to $522.7K. Options showed mixed sentiment: steady OI at $46.3B, a sharply negative volatility spread at -14.6 percent, and a high 25-delta skew at 12.88 percent, indicating demand for downside protection.

ETF flows added a clear headwind. Netflows flipped from a $134.2M inflow to a $707.3M outflow, signalling profit-taking or softer institutional interest. Yet ETF trade volume rose 21.33 percent to $22.6B, and ETF MVRV increased to 1.67, pointing to higher holder profitability and some potential for distribution..

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