Bitcoin is consolidating in the $104k–$116k air gap after significant absorption by investors. Futures and ETF flows show cooling demand. Strength above $116k could revive the uptrend, while a breakdown risks a move toward $93k–$95k.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin retreated to $107K, testing the short-term holder cost basis - a key level for market sentiment. The latest Market Pulse highlights oversold spot conditions, cautious futures positioning, renewed ETF inflows, and weak on-chain activity as fragility persists.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin trades near $111k, testing key support at $107k–$108.9k. A bounce to $113.6k may face selling from stressed holders, while deeper losses could target $93k–$95k. Losses remain shallow, with spot demand neutral and perpetuals leaning bearish but fragile.| 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
Discover how to apply Cost Basis Distribution to detect spikes in profit-driven spending and identify local market tops. This analysis completes our framework for detecting market extremes, from capitulation to euphoria.| Glassnode Insights - On-Chain Market Intelligence
Pressure continues to mount across the digital asset landscape, with broad-based sell-offs hitting major assets. Derivatives activity, in particular, continues to accelerate, leaving the market increasingly sensitive and reflexive in its structure.| Glassnode Insights - On-Chain Market Intelligence
The Glassnode MCP server brings institutional-grade blockchain analytics into AI workflows. With support for 1,700+ assets and 900+ metrics, users can discover, fetch, and analyze on-chain data seamlessly through LLM chat. Now in beta, it offers free access for exploration.| 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
Bids for Ethereum continue to strengthen with the asset marching toward ATHs, while Bitcoin consolidates just below its peak. However, surging open interest in top altcoins, alongside exceptionally low Bitcoin volatility expectations, sets the stage for heightened digital asset market volatility.| 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
We're expanding Cost Basis Distribution (CBD) beyond Bitcoin to Ethereum (ETH), ERC-20, and SPL tokens - providing deeper insights into evolving cost bases and enhancing visibility into investor positioning, market conviction, and capitulation across assets.| Glassnode Insights - On-Chain Market Intelligence
Access pioneering insights and analyses of the digital asset space developed in collaboration with industry-leading institutional brands.| Glassnode Insights - On-Chain Market Intelligence
We introduce a new methodology to classify Bitcoin supply owned by long-term investors and short-term traders, and create a set of on-chain metrics that show when these two investor types are in a state of profit or loss.| Glassnode Insights - On-Chain Market Intelligence
Over the weekend, Bitcoin’s liquidity faced a significant test, as a large size early investor distributed over 80k BTC via Galaxy Digital’s OTC services. However, the market has remained resilient with a supermajority of investors still holding unrealized profits.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin ETF inflows dropped 80% while futures positioning and on-chain profitability remain elevated. This week’s Market Pulse analyzes the divergence between traditional and crypto-native flows, assessing where market pressure may emerge next| Glassnode Insights - On-Chain Market Intelligence
Altcoins are showing broad strength following Bitcoin’s lead, but surging open interest across the sector suggests speculative froth may be building, raising the risk of sharper volatility ahead.| Glassnode Insights - On-Chain Market Intelligence
Discover key on-chain and market trends shaping the crypto outlook in Coinbase and Glassnode’s Q3 2025 report.| Glassnode Insights - On-Chain Market Intelligence
Explore how Bybit’s response to the February 2025 Lazarus hack became a real-world stress test for digital asset markets. This Glassnode report analyzes exchange flows, liquidity recovery, and institutional market structure across BTC, ETH, and SOL in a 23-page data-driven case study.| Glassnode Insights - On-Chain Market Intelligence
An innovative study by Glassnode and Avenir Group exploring how Bitcoin’s liquidity profile is being reshaped by structural capital flows, institutional demand, and macro-financial integration.| Glassnode Insights - On-Chain Market Intelligence
Glassnode Insights is your portal to contextualised market analysis, and cutting edge research for Bitcoin, Ethereum, DeFi and more.| Glassnode Insights - On-Chain Market Intelligence
Market bottoms often form during extreme distress, when forced selling peaks and exhausted investors capitulate. Using Cost Basis Distributing to track supply shifts and sell-offs in assets like Uniswap, Maker, and AIOZ, we arrive at an on-chain bottom signal.| Glassnode Insights - On-Chain Market Intelligence
The macroeconomic environment remains uncertain with the restructuring of global trade relations ongoing. In spite of this, the performance of hard assets remains remarkable with Gold surging to a new ATH of $3300 and Bitcoin residing above $80k.| Glassnode Insights - On-Chain Market Intelligence
Supply Mapping is a new on-chain tool that segments token holders by behavior – like conviction buying, profit-taking, and panic selling – revealing investor psychology and market sentiment shifts across hundreds of assets.| Glassnode Insights - On-Chain Market Intelligence
Bitcoin remains in a fragile state. Weak fundamentals, declining profitability, and soft liquidity make the market vulnerable to macro shocks. Yet, resilience around $80k suggests long-term participants are defending this level – a potentially constructive signal.| Glassnode Insights - On-Chain Market Intelligence
The announcement of Trump’s “Liberation Day” tariffs sent shock-waves through financial markets, with major macro indexes experiencing a unilateral decline. Digital assets have been no exception, experiencing a broad-based contraction occurring across all sectors.| 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
Early token holders often control a large share of supply, making their buying and selling decisions key to market trends. This analysis explores Early Holder Balance, Herfindahl Index, NUPL, and Cost Basis Distribution to help traders anticipate price tops and manage risk effectively.| Glassnode Insights - On-Chain Market Intelligence
Despite a prolonged downtrend in Metaverse tokens, CBD data reveals that major players continue to dollar-cost average (DCA) into these assets.| 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
We introduce Cointime Economics, a new framework for analysis of the Bitcoin economy. It relates the concepts of time and supply to derive dynamic metrics of Bitcoins economic activity which account for both supply and demand forces.| Glassnode Insights - On-Chain Market Intelligence
A joint publication of CME Group and Glassnode, this report equips institutional traders and investors with knowledge and data about the 2024 trends in the digital asset market, aiming to enhance investment decision making.| Glassnode Insights - On-Chain Market Intelligence
We introduce the Cost Basis Distribution (CBD), a novel metric that helps identify key accumulation and distribution zones, tracks their evolution over time, and offers a data-driven framework for understanding critical price levels derived from on-chain data.| 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
In the Q4 'Guide to Crypto Markets' by Glassnode and Coinbase Institutional, we highlight growing institutional engagement in Bitcoin ETFs, the surge in Ethereum staking, and the expanding role of stablecoins as key drivers of market activity.| 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
Discover Glassnode's Bitcoin Sharpe Signal Short, our proprietary trading signal based on on-chain data designed to identify high-confidence shorting opportunities and improve risk-adjusted returns for Bitcoin.| Glassnode Insights - On-Chain Market Intelligence
As Bitcoin struggles to reclaim the recent ATH, we investigate the Long and Short-Term cohorts contribution to the supply and demand side. We also leverage the new breakdown metrics to evaluate the spending behavior and market influence of differing subsets of Long-Term investors.| 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
A Breakdown of Uniswap's Protocol Activities Introduction One of the fundamental building blocks within the cryptocurrency ecosystem is decentralized exchanges (DEXs). These platforms enable users to trade cryptocurrencies directly with each other, or via liquidity pools, eliminating the need for a counterparty or a centralized entity to execute the trade.| Glassnode Insights - On-Chain Market Intelligence
Residing just shy of the ATH, Bitcoin continues to consolidate, with long-term investors beginning to re-accumulate coins for the first time since Dec 2023. Alongside this, a historic first tranche of Ethereum spot ETFs have been approved in the US, seeing a +20% surge in the ETH price.| Glassnode Insights - On-Chain Market Intelligence
Learn about how to apply our new suite of metrics to better identify local bottoms in a bull market and start applying these insights in your trading strategies.| 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
Learn about our new suite of metrics and its benefits for your analysis of the digital asset market and applicability to your trading strategies.| 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
In the Glassnode Spotlight series, we explore the most interesting and actionable insights from the Coinbase x Glassnode Q2 Guide to Crypto Markets. The first part is focused on the 4th Bitcoin halving and its impacts.| 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
This article explores how the upcoming Bitcoin halving, combined with the significant demand from ETFs, reshapes traditional trading strategies, emphasizing the need for traders to adapt to this new trading landscape.| 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
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
