Bitcoin long-term holders have resumed accumulating while BTC trades below $60,000, according to Glassnode. According to NS3.AI, the analytics firm said sentiment remains pressured by institutional outflows, defensive options positioning, and ETF outflows.

Glassnode did not provide figures for the reported flows or detail the scale of the options positioning, but said these factors continue to weigh on market sentiment even as long-term holders add to their positions.