Bitcoin Exchange Reserve Surges, Market Needs Fresh Demand

Bitcoin recently dropped to $74,000 after failing to hold the November lows, extending a sharp pullback that has weakened short-term momentum. At the time of writing, the cryptocurrency is trading around $78,000 as the market sees a short-term relief. The 14-day Relative Strength Index has fallen into deeply oversold territory amid intense downside pressure. According to Glassnode, spot trading volume has rebounded during the move, but it is more consistent with risk repositioning than fresh demand.   ...