New data from Glassnode shows that aggressive Bitcoin selling has subsided for the first time since October 10, marking a potential shift in short-term market dynamics.
Both spot and futures Cumulative Volume Delta (CVD), indicators that track net buy and sell pressure, have flattened, suggesting a pause in the heavy selling that has characterized much of October.
The chart shared by Glassnode reveals that Bitcoin’s price decline from $122,000 to roughly $110,000 earlier this month coincided with a sharp drop in both spot and perpetual futures CVD. This indicated that sellers had dominated both markets, pushing prices lower as funding rates turned negative.
However, the recent flattening of these metrics implies that selling momentum is weakening, while open interest remains stable, a sign that new long positions may be forming at current levels.
Analysts interpret this stabilization as an early signal of buyer re-entry and potential accumulation following weeks of liquidation-driven pressure. If the CVD trend continues to stabilize or turn positive, it could mark the beginning of a short-term recovery phase for Bitcoin, particularly if supported by renewed ETF inflows and macro relief following the latest CPI data.
At the time of reporting, Bitcoin trades near $115,000, holding steady after a volatile two-week stretch that tested investor sentiment across both spot and derivatives markets.