glassnode: Bitcoin is approaching a breakout point, $114,000 is the bull-bear dividing line.

On September 10, glassnode published a market outlook stating that the current realized volatility indicators for all short-term Bitcoin have fallen to around 30% or below, marking a low volatility range since the bottom at $107,000. This calm rarely lasts, and spikes in volatility often follow. The market is approaching a breaking point, and momentum is about to shift. Market momentum can be assessed from multiple angles—one of which is through the capital inflow of realized profits (30-day MA). Currently, this figure stands at $1.17 billion per day, a decline of about 47% from the peak of $2.2 billion in June, but still above the baseline during the bear market phase. However, the drop to $107,000 triggered panic selling from top buyers, laying a typical foundation for the market rebound. Bitcoin may rebound to $114,000 in the short term, but as long as the price remains below that level, the overall trend is inclined to remain bearish.