TechFlow news, September 15 — Glassnode released a market research report stating that Bitcoin rebounded to $116,000 last week, driven by expectations of Fed rate cuts. However, it is now facing renewed selling pressure. Although the RSI has entered the overbought zone and spot market momentum remains strong, buyer confidence is limited. Futures market participation has increased, and inflows into U.S. spot ETFs have strengthened significantly, indicating robust institutional demand.
On-chain data shows active addresses are near cyclical lows, yet transfer volume has risen, suggesting active fund movement despite reduced user activity. Investor profitability metrics have generally improved, but rising profit-taking may lead to weaker demand.
Analysts believe the market stands at a critical juncture, with $114,000 as a key level for upward movement, while a drop below $108,000 could bring greater downward pressure. Bitcoin is currently consolidating within the $104,000–$116,000 range, ETF demand is cooling, and market sentiment remains cautiously optimistic but fragile.
