According to a report published by analysis firm Glassnode on April 13, 2026, the price of Bitcoin (BTC) is sending signals indicating a change in trend.
This diagnosis is supported by A set of indicators reflecting improvements in investor behavior. To support this view, Glassnode analyzes three key metrics that allow us to understand how capital is moving within the ecosystem.
One of them is realized capitalization (Realizes cap change), an indicator that measures whether money is flowing in and out of the market.
In the graph above, you can see that the blue line (representing the indicator) shows the improvement from -0.6% to -0.4%, and the gray line reflects the price of Bitcoin. On the other hand, the green and red bands indicate the normal statistical range of the indicator.
Although the value is still negative, this indicates that there is still capital outflow. This decline in numbers suggests that selling pressure is losing strength. For Glassnode, this signals a more stable environment for capital flows within the market.
The other signal appears in the cumulative volume delta (spot CVD), This measures the difference between aggressive buying and selling in the spot market (spot).
As seen in the graph, the blue line shows a significant increase from $34.4 million to $63.9 million, above the upper band of the indicator (marked in green). Similar to the chart above, the BTC price is displayed in gray.
This behavior indicates that Buyers have strong control over the market, reflecting bullish beliefs in the short term. Unlike derivatives, this metric captures actual purchases, supporting the report’s positive outlook.
Finally, Glassnode specialists focus on futures open interest, which measures the amount of capital invested in BTC derivative contracts.
This indicator (also in blue) increased from $29.8 billion to $31.9 billion, an increase of 7.2%. In this case, the values remain within the statistical band, reflecting increased activity, but not at extreme levels.
For Glassnode, this move signals increased speculative interest and increased participation in futures markets. This can increase the sensitivity of prices to sudden changes.
Together, the three charts show that the market is in a transition period. On the other hand, selling pressure is reduced. On the other hand, purchases in the spot market will increase. At the same time, derivatives activities will expand.
Furthermore, Glassnode highlights that BTC is “also showing a trend toward greater stability” as investors begin to move from selling at a loss to taking profits.
Considering the global scenario, this behavior is not significant. The Middle East war continues to be a source of tension for traditional markets, particularly due to its impact on energy.
As reported by CriptoNoticias, the closure of the Strait of Hormuz, through which almost 20% of the world’s oil circulates. A rise in oil prices above $100 per barrel has increased pressure on global assets.
In this context, the fact that BTC maintains its demand and activity supports Glassnode’s view that the market is starting to show signs of recovery with increasing speculative elements.
(Tag translation) Bitcoin (BTC)
