glassnode: BTC rebound remains low-volume correction, ETF net inflows resume but on-chain activity continues to weaken

ChainCatcher news, according to the latest Bitcoin Weekly Market Pulse report released by glassnode, although BTC has rebounded after recent sell-offs, this round of gains is still more akin to a "low-volume recovery". The report shows that weekly spot trading volume fell 21.5% to $4.1 billion, and spot CVD shifted from positive to negative at -$58.8 million, indicating continued weakness in market buying breadth.

On the institutional capital side, weekly net inflows into US spot BTC ETFs have recovered to $161.3 million, but ETF trading volume still decreased by 11.97% week-on-week to $8.4 billion. Regarding on-chain data, the number of active addresses dropped 7.6% to 599,000, on-chain transfer volume declined 16.1% to $4 billion, and total fees fell 13.9% to $168,400, showing that on-chain activity continues to weaken.

As for derivatives, futures funding rates rose 13.4% to $1.9 million, but perpetual contract CVD fell sharply by 81.7% to $83.9 million. Meanwhile, the options market's 25-Delta Skew climbed to 18.87%, indicating that investors still maintain strong demand for downside protection during the rebound.