pending

#Bitcoin remains range-bound between $100k–$110k. Profit-taking cools, volume fades, and futures show signs of caution. What would it take for $BTC to break out from this trend? Read more in the latest Week On-Chain: https://glassno.de/4lsYeod

The $93k–$100k range remains a key structural support zone for $BTC, with dense accumulation from Q1. Price holding above this band suggests the broader bullish structure is intact despite short-term volatility.

Glassnode Studio now shows Net Unrealized Profit/Loss sentiment across assets - spot capitulation, hope, and belief in real time. See who’s panicking and who’s holding strong. Hover to view NUPL values. Free access on Studio: https://glassno.de/4lpeC9a

As $BTC attempts to reclaim $108K, the Accumulation Trend Score shows no unified cohort behavior. 1–10 #BTC wallets continue distributing, while 10–100 $BTC are net accumulators. Others show mixed signals, though the overall score has rebounded from 0.25 to 0.57

#BTC’s 25 Delta Skew has cooled after last week’s peak. 1w skew dropped from >10% to 2.96%, while 3m and 6m remain negative (-2.6%, -4.3%). Combined with a put-heavy volume profile, this points to reduced short-term panic, but lingering medium-term caution.

Cost Basis Distribution for $TON reveals four key supply clusters:

• $2.01–2.05 (1.32B TON)
• $2.18–2.22 (535M TON)
• $2.91–2.98 (863M TON)
• $3.83–3.87 (261M TON)

These levels represent zones of investor cost concentration - potential support/resistance.

Explore our latest report on #BTC’s evolving liquidity profile - a joint study with Avenir, an innovation-focused, high-frequency trading firm: https://glassno.de/40lyF05
This 20-page report unpacks liquidity across on-chain, exchange, and macro layers, including: 🧵👇

Explore our latest report on #BTC’s evolving liquidity profile - a joint study with Avenir, an innovation-focused, high-frequency trading investment: https://glassno.de/40lyF05
This 20-page report unpacks liquidity across on-chain, exchange, and macro layers, including: 🧵👇

$SOL CME Futures volume just hit an all-time high of 1.75M contracts - the highest on record. This surge suggests institutional investors are positioning aggressively as price rebounds to ~$145.
Track SOL derivatives data: https://glassno.de/4lirj5w

#Bitcoin Long-Term Holder Spending Binary Indicator shows minimal spending for the first time since June 10. With LTH supply near all-time highs (~14.7M $BTC), it signals continued conviction - seasoned investors remain reluctant to distribute despite recent market volatility.

Despite recent price volatility, US Spot #Bitcoin ETFs recorded net inflows of over 11.6K $BTC last week.
This marks the second consecutive week of positive flows, highlighting sustained institutional demand even in uncertain conditions.

Since June 10, $BTC investors classified as Loss Sellers rose 29% (from 74K to 95.6K), showing growing pressure on weak hands. But Conviction Buyers also increased, suggesting sentiment isn’t collapsing. Some are cutting losses - others are actively lowering their cost basis.

#Bitcoin's Short-Term Holder cost basis is ~$98.1K. While recent corrections have bounced near this level, the Cost Basis Distribution shows denser supply just below, around $97K–$98K. This zone may act as the true pivot in the next drawdown as pressure builds on newer holders.

Since April, $BTC corrections have consistently found support at the Short-Term Holder Realized Price - the cost basis of investors holding <155 days. But STH-MVRV is declining and now sits at just 0.03, showing rising pressure on newer investors with only 3% unrealized gains.

@glassnode x @Gemini

#Bitcoin is entering a new era, led by sovereign treasuries, ETFs & institutional flows.

Some highlights:

- 30.9% of $BTC in centralized treasuries
- Strategic Bitcoin Reserve impact
- Volatility trending down

Download report → http://glassno.de/44689ZJ

BTC CBD Heatmap Update

The first dense supply cluster sits at $95.5k–$97k, just below the short-term holder cost basis at $98k.

This confluence marks a key threshold, where holding above it favors bull continuation, while a break below could trigger a bearish phase for mid-term to long-term.

Despite #Bitcoin’s elevated price, a clear divergence has emerged between market valuation and network activity. In this report, we explore activity across both on and off-chain markets, and examine how network metrics have changed this cycle.

Discover more in the latest Week On-Chain below👇

XRP is trading above $2, more than 3x higher than its base price before the sharp rally in November 2024.

Investors who accumulated earlier are sitting on over 300% gains.

In early June, they began realizing profits at a pace of $68.8M per day (7D-SMA), signaling a wave of distribution by early holders.

Cost Basis Distribution shows #TRON found support in the $0.26–$0.27 range, where over 14B $TRX is held -marking the strongest cluster on the chart. Above that, the supply is relatively thin and most investor positioning remains below current price: https://glassno.de/3G3vcwi

Funding rates have turned positive for $BTC (0.0049%) and $ETH (0.0062%) - a rebound from yesterday. $DOGE leads at 0.0092%, $SOL hovers just above neutral (0.0012%), while $TRX turned negative (-0.0087%).

Check the full asset list regularly - it's free: https://glassno.de/4l5G1gg