BTC Market Pulse: Week 22

Crypto Insight Summary: Bitcoin pulled back from $79K to a local low near $74K before rebounding toward $77K during week 22, according to a Glassnode report published on May 25, 2026. Price momentum declined by 21.7% amid softer sentiment, while Spot CVD and Perpetual CVD rose 77.2% and 35.5% respectively, suggesting easing selling pressure. Trading activity cooled, with Spot Volume down 10% and Futures Open Interest declining 3.5%. Long-side funding payments surged 135.4%, indicating renewed risk appetite, while the 25-Delta Skew ticked higher, reflecting slightly greater demand for downside protection. In traditional finance markets, US Spot ETF MVRV rose 0.69% and ETF netflows improved 28.9%, pointing to easing capital outflows, though ETF trade volume fell 22.9%. On-chain activity saw minor reductions in daily active addresses and entity-adjusted transfer volume, hinting at consolidation. Liquidity metrics pointed to a more stable profile with higher conviction and lower speculative activity. Profitability metrics, however, flagged rising market stress, as the net unrealized profit-to-loss ratio declined sharply and the realized profit-to-loss ratio indicated increased loss realization. Overall, the report describes a market in a phase of moderation and consolidation, with cautious sentiment and mixed risk appetite requiring close monitoring. Crypto Insight Analysis: Direction: Neutral Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Mixed signals with cooling trading activity but easing selling pressure indicate temporary consolidation.