Glassnode: BTC has seen concentrated selling in the range of $109,000 to $115,000, with recent gains being used for hedging operations

ChainCatcher message, Glassnode stated on social media that the BTC net premium flow shows concentrated selling in the price range of $109,000 to $115,000, indicating that the recent price increase is being used for hedging operations. This suggests that traders are adopting defensive positioning strategies during the market consolidation, using the price strength for risk management.