On August 19th, Glassnode reported that Bitcoin price has rebounded to 121,000 USD after falling below 114,000 USD, with improved on-chain activity and derivatives market sentiment.
While strong ETF inflows were noted, exceeding 880 million USD weekly, the overall market remains cautious due to declining spot trading volumes and high profitability ratios.
The future direction of BTC will likely depend on the restoration of institutional capital flows and buyer confidence amid ongoing price volatility and mixed on-chain signals.
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