$30K BTC Price Incoming? — On-Chain Data Declares Bitcoin in “Confirmed Bear Market” ⋆ ZyCrypto
The post $30K BTC Price Incoming? — On-Chain Data Declares Bitcoin in “Confirmed Bear Market” ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
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  On-chain data from Glassnode indicates that Bitcoin has entered a confirmed bear market, with multiple structural indicators pointing to sustained downside pressure and weakening demand. According to the analytics firm, spot Bitcoin volumes remain structurally weak, with the 30-day average still deeply depressed even as the price rolled over from the $98,000 region to the low $62,000s. This divergence highlights a growing demand vacuum, where persistent sell-side pressure is no longer matched by meaningful spot absorption. Glassnode notes that Bitcoin has suffered a decisive breakdown after slipping below its True Market Mean near $80,200, keeping market participants firmly on the defensive. Repeated failures to reclaim the short-term holder’s cost basis, totaling around $94,500, reinforced bearish control. As price declined, profitability across the network compressed sharply, with unrealized gains fading and realized losses accelerating as the market pushed into the $70,000 range. Moreover, on-chain cost-basis distributions indicate early signs of accumulation between $70,000 and $80,000. Within that zone, a dense supply cluster between $66,900 and $70,600 has emerged as a high-conviction area where near-term selling pressure may be partially absorbed. Advertisement
  However, Glassnode cautions that elevated loss realization suggests that fear-driven selling remains active, implying that seller exhaustion has not yet fully materialized. That said, futures trading has entered a forced deleveraging phase, marked by the greatest long liquidation spikes seen during the drawdown. These events have amplified volatility and reinforced downside continuation, flushing excess leverage but failing to establish a durable price floor. Options markets share this caution, with implied volatility staying elevated and downside skew steepening as traders continue to pay a premium for protection. Meanwhile, demand from major allocators has softened materially. ETF and Treasury-linked net flows have faded, removing the consistent bid that had supported previous expansion phases. With spot liquidity…
Filed under: News - @ February 11, 2026 7:25 am