Glassnode


Гео и язык канала: Весь мир, Английский
Категория: Криптовалюты


Institutional Data and Market Intelligence for Digital Assets.
https://studio.glassnode.com/

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Гео и язык канала
Весь мир, Английский
Категория
Криптовалюты
Статистика
Фильтр публикаций


Large entities are back in profit.

Small wallets stayed in profit the whole time: at the June low, $BTC held well above their $48K cost basis while sharks and whales slipped underwater.

In the 2022 bear market, price fell below every group's cost basis.


$BTC trades near $86k after a Sunday rally lifted the weekly close about 2% higher.

Derivatives positioning eased back into its normal range and ETF inflows cooled, while on-chain activity, new capital and profit-taking all run hot.

https://glassno.de/4zctuPd


Whales have stopped sending $BTC to exchanges.

Their summer run of net deposits lasted over three months, twice as long as any other since 2023.

It ended in late August, and the flow has stayed negative since.


$BTC's largest overhead liquidation cluster sits near $90k.

If price touches this level, leveraged shorts will be forced to close their positions.

Zoom into the last two months and smaller clusters can be seen around $83k and $75k.

Either side could speed up the next move.


$BTC long-term holders stayed in profit this entire cycle.

No bear market since at least 2015 has done that.

In each prior bear, LTH-MVRV fell below 1 at the cycle low, putting the cohort underwater.

This time it bottomed above 1 and is now climbing again.


The market repriced the odds of an October Fed hike from 66% to 22% this week.

Here is our commentary on the repricing as it happened and what Bitcoin did.

https://glassno.de/pricing-out-the-hike


$BTC investors that bought the top are currently selling.

Two cohorts sit underwater: buyers from 1–2 years ago at $97k, and from 6–12 months ago at $89k.

Those who bought the 2025 rally are selling the most coins per day this year.

Those who bought the decline are not.


Sellers stepped aside and $BTC ran higher.

The asks at $85k were partly filled and the rest pulled, which left little resistance above.

Price has now reached the next cluster of sell orders around $87k.

It is about half the size of the old wall.


The sell wall over $BTC has gone.

Buyers took out the $85k wall yesterday, after almost a week of failed tests.

The rest of the sell orders seem to have been removed.

With reduced ask liquidity above, this should allow price to move up faster.


Bitcoin's relative strength is back.

In June, $BTC beat the S&P 500 on just 1/5th of trading days, the weakest stretch in six years.

Its win rate is now back above 50% with stocks flat.

This points to an idiosyncratic bid for Bitcoin itself.


Bitcoin is holding up, but it has hit a wall of sellers at $85K.

Our new Week On-chain maps what it would take to break through.


There are several ways to earn yield on Bitcoin.

In our latest report with @xapobankapp, we examine the Bitcoin yield landscape in detail.


$BTC is rallying on less leverage.

Price is up 35% from the August low, while coin-denominated open interest is down almost 20%.

That puts open interest at its lowest since March, potentially making the rally less susceptible to leverage flushes.


$BTC has stalled under its heaviest supply cluster.

More long-term holder coins sit at $84k–$85k than at any other price on the chart.

Price needs to break through and hold above this level for the rally to continue.


Bitcoin trades near $84k after a week that closed about 4% higher.

ETF inflows carried the gain while perpetual traders and profit-takers sold into it, and Monday's dip takes price back to the lower end of its range.

https://glassno.de/4ACHe7s


Spot traders are turning to altcoins.

Total spot volume now runs close to 4x Bitcoin's, the highest since September 2025.

Demand for higher risk like this has often lined up with local tops in $BTC.


AI agents can now use Glassnode data via x402.

On-chain, derivatives, ETF metrics and more, paid per call from your @coinbase USDC balance.

Set up your agent now: https://glassno.de/451fVoR


This is the first $BTC bear market that never closed below the Realized Price.

This means that the average BTC holder stayed in profit this entire time.

More on the next levels, sell pressure and ETF flows in this week's Week On-chain 👇

https://twitter.com/glassnode/status/2102766576730812638


Strategy Watch is our monthly read on fund performance, capital flows, and allocator positioning across digital assets, produced with Crypto Insights Group

Edition #8 is live now


Only 9 of the top 50 altcoins have beaten $BTC since its all-time high.

ZEC leads by a wide margin, up 14x against Bitcoin.

HYPE, XMR and NEAR follow at 2–3x.

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