BTC Market Pulse: Week 39
Bitcoin rallied to $117k in anticipation of a Fed rate cut last week, before retreating to $115k under renewed selling pressure.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin rallied to $117k in anticipation of a Fed rate cut last week, before retreating to $115k under renewed selling pressure.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin faced sharp volatility last week, surging to $117K before retreating to $111K. Spot momentum weakened, futures leverage contracted, and ETF flows turned negative with $1B outflows. On-chain demand softened as activity fell, profits faded, and caution grew across traders and institutions.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin rebounded from last week’s drop below $114K to $121K, with on-chain activity and derivatives sentiment improving. However, falling spot volumes and high profitability suggest caution. This week’s Market Pulse breaks down key BTC market signals across spot, futures, ETFs, and on-chain.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin rebounded from last week’s drop below $114K to $121K, with on-chain activity and derivatives sentiment improving. However, falling spot volumes and high profitability suggest caution. This week’s Market Pulse breaks down key BTC market signals across spot, futures, ETFs, and on-chain.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin has slipped below $116k, entering a low‑liquidity “air gap”, a zone where few coins have changed hands. Short-Term Holder profitability has hit the bull market mid-line, ETF flows have turned negative, and funding rates are cooling off as the market is trying to find support.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin’s rally pauses as momentum cools across spot, futures, options, and ETF markets. With liquidity thinning and risk appetite moderating, signs of seller exhaustion emerge - yet fragile market structure leaves BTC vulnerable to further downside.| Glassnode Insights - On-Chain Market Intelligence
Despite a short-term bounce, ETF, futures, and on-chain data show weak follow-through. Without stronger liquidity and conviction, the rally risks fading into a broader correction - more relief than the start of a lasting uptrend.| Glassnode Insights - On-Chain Market Intelligence
Challenging market conditions continue for digital assets, with Bitcoin Short-Term Holders finding themselves under increasing financial pressure. Under the surface, a shift towards Long-Term Holder accumulation appears ongoing, with wealth now transferring back towards price insensitive investors.| Glassnode Insights - On-Chain Market Intelligence
Bybit’s historic $1.48B hack triggered panic withdrawals and a market-wide sell-off, pushing the price 20% below its ATH. With the market trading 5% below the cost basis of short-term holders, new investors faced severe pain, intensifying their loss realization.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin is trading in the $93k-$97k range, leading to a wider digital asset market cooldown. Capital inflows are weakening, and derivatives activity is declining. Short-term holder accumulation patterns somewhat resemble May 2021, which was a relatively challenging set of market conditions.| Glassnode Insights - On-Chain Market Intelligence
The current bull market shows several structural similarities to the 2015–2018 cycle. We explore this idea from the perspective of the drawdown profile, price performance, and Realized Cap change. We also address misconceptions about the exchanges and ETF balances.| Glassnode Insights - On-Chain Market Intelligence
As the Bitcoin market corrects from the $108k ATH, a significant proportion of froth has come out of the market, whilst demand remains relatively robust. Unrealized losses are primarily held by short-term holders; however, stress levels are relatively modest compared to previous drawdowns.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin continues to relentlessly establish new ATHs, supported by robust capital inflows from both ETFs and the Spot Market, with over $62.9B entering the market over the last 30 days. As the market proceeds to heat up, Long-Term Holder spending begins to rise in tandem.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin’s rally to a new ATH is driven by strong spot demand and institutional inflows, with over 95% of supply in profit. This article explores on-chain indicators, highlighting robust spot buying momentum, rising ETF AUM, futures premiums, and the potential for sustained gains in this ATH phase.| Glassnode Insights - On-Chain Market Intelligence
The Bitcoin market is in an interesting spot, with the average coin still up 2x, whilst most Short-Term Holders are underwater. A multitude of volatility measures are also heavily compressed, suggesting a larger move is on the horizon.| Glassnode Insights - On-Chain Market Intelligence
Despite choppy price action, the unrealized profit of Bitcoin investors remains constructive. However, volumes across all market facets are declining markedly as an equilibrium between demand and sell-side forces is established.| Glassnode Insights - On-Chain Market Intelligence
Despite impressive US ETF inflows, a market-neutral Cash-and-Carry trade appears to be subduing buy-side pressure, requiring non-arbitrage demand to further stimulate price action. Alongside this, we explore the divergence between declining active addresses and surging transaction counts.| Glassnode Insights - On-Chain Market Intelligence
Understanding Liquidity Supply and Demand Dynamics on Uniswap Introduction The introduction of concentrated liquidity in Uniswap V3 has given market makers more freedom and opportunity to manage their positions. It has also made the competitive landscape more challenging, and thus the decision-making process has become substantially more complex for selecting| Glassnode Insights - On-Chain Market Intelligence
Using our new Breakdown Metrics, we are now able to discretely isolate points of severe unrealized loss, and investor capitulation. In this article, we introduce a new framework to assess seller exhaustion across multiple timeframes and investor cohorts.| Glassnode Insights - On-Chain Market Intelligence
As Bitcoin continues consolidating, we investigate which cohort of investors are contributing the most to sell-side activity. We also use our new Breakdown metric suite to build a set of rules for tracking local market lows during corrections.| Glassnode Insights - On-Chain Market Intelligence
The fourth Bitcoin Halving has occurred, leading to a 50% reduction in supply inflation and an inherent increase in issuance scarcity. In this edition, we explore the evolution of the Bitcoin network across Epochs with respect to price performance, and fundamental network metrics.| Glassnode Insights - On-Chain Market Intelligence
The Ethereum community is debating a change to the ETH monetary policy, following a proposals aimed at constraining the rapid expansion of the staking pool. This is motivated by a surge in demand for Liquid Staking and Restaking protocols.| Glassnode Insights - On-Chain Market Intelligence
With the Bitcoin ETF becoming a classic sell-the-news event, we explore the market's risk appetite for tokens further out on the risk curve. There are some indicators alluding to ETH outperformance, as well as interesting divergences in altcoin price action relative to the majors.| Glassnode Insights - On-Chain Market Intelligence
2024 has opened with a roller-coaster ride for Bitcoin, as ten new spot ETFs begin trading in US markets. The event was historic and chaotic, with BTC prices setting both new multi-year highs, and YTD lows. Bitcoin has welcomed traditional finance into it's world.| Glassnode Insights - On-Chain Market Intelligence
At Glassnode, we are committed to providing you with the most precise and up-to-date on-chain data for centralized exchanges. In our continuous effort to maintain transparency and trust, the present notice aims to help you understand how Glassnode tracks on-chain addresses necessary for an accurate representation of centralized exchange balances, and how to interpret the resulting exchange data.| docs.glassnode.com
Bitcoin continues to lead as one of the best performing assets globally in 2023. Not only has BTC appreciated over 140% YTD, it has more than doubled relative to gold, and still dominates against the rest of the digital asset industry.| Glassnode Insights - On-Chain Market Intelligence
The fourth Bitcoin halving is fast approaching, being an important milestone both for the asset, and for investors. In this edition, we deep dive into the impressive tightness of BTC supply, and demonstrate how we can measure investor accumulation patterns in the lead up to the event.| Glassnode Insights - On-Chain Market Intelligence
