Glassnode

LTH Relative Unrealized Loss captures the total unrealized loss held by Long-Term Holders, normalized by market cap, reflecting the depth of pain among the most convicted cohort.The 30D-SMA currently sits at 14% of market cap, substantially below the levels at which prior bear markets have historically resolved (~70%)📉http://glassno.de/4sXmxyH

The Week On-Chain 14, 2026Bouncing in a BearBitcoin bounced from $67k to $72k, but weak spot demand and softer futures activity suggest the recovery still lacks strong conviction, even as ETF flows begin to turn modestly positive.Executive Summary- Bitcoin remains within a subdued and low-conviction market environment, with weak spot activity and thinner derivatives participation continuing to lim...

USVIX, a TradFi volatility indicator tracking expected 30-day fear in the S&P 500 options market, is now live on@glassnode.The timing could not be more relevant.Since the US Spot Bitcoin ETFs emerged, the link between BTC and US equities has only grown stronger. Stock market fear is now Bitcoin's fear, too.📉glassno.de/4dyORCK

#Bitcoinpushed higher in a sharp impulsive move, reclaiming the $69k level after consolidating above $65k, with momentum accelerating into the end of the period.Read more in this week’s Market Pulse👇https://glassno.de/4ve4ea6

As price probed the $70K region, Realized Profit/hour spiked above $20M, signalling a local exhaustion.A pattern consistent since February 2026:Every approach to the $70k–$80K band meets thin liquidity and profit-taking pressure, capping the bounce.📉glassno.de/4c3bGfu

With price trading at $1.33, the Percent of XRP Supply in Profit has declined to 43.4%, the lowest since July 2024.

With price trading at $1.33, the Percent of XRP Supply in Profit has declined to 43.4%, the lowest since July 2024.

The big hands are bleeding.With price contracting from ATH, Sharks & Whales (0.1K–10K BTC) are realizing losses at scale. The 7D-SMA of realized loss is now at >$200M/day.Typical capitulation behaviour from larger entities.📉glassno.de/4v9gzw7

Bitcoin Block 943,400Only 1,600 blocks (~11 days) until we hit the halfway point to the next halving.Block 945,000 is coming.📉glassno.de/4v5TASP

The Week On-Chain 13, 2026No Catalyst, No Range BreakBitcoin remains rangebound between $60k and $70k as spot demand shows early absorption and derivatives reset. Volatility cools and positioning balances, but without a clear catalyst, the market lacks the conviction needed for a sustained breakout.Executive Summary- Total Supply in Loss sits near 8.4M BTC, echoing the Q2 2022 structure, when roug...

The 30D-SMA of total daily transaction fees has declined to 2.5 BTC/day, the lowest level since March 2011.Fee compression of this magnitude reflects a significant reduction in on-chain demand for block space, consistent with subdued network.📉glassno.de/3NVcqes

The 7D-SMA of US Spot ETF Netflow has turned negative since early last week, with 200–500 BTC in net daily outflows.Small in magnitude, but persistent. A quiet signal that institutional demand conviction remains tentative at current price levels.📉glassno.de/4bJAHgX

🔁UPDATE:The recent rally toward $76k coincided with smaller wallet cohorts shifting toward distribution.🟥Broad-based accumulation across wallet sizes remains absent, limiting the sustainability of upward moves.📉glassno.de/4uPYF1e

#BTCbroke back below $70k before finding support near $65k, with a modest rebound back towards $67k into the weekend. Momentum remains tentative, with lower highs still defining the short-term structure.Read more in this week’s Market Pulse👇https://glassno.de/4m8myxm

A simple 30D MA crossover of BTC price vs. Max Pain generates long/short signals that outperform buy-and-hold over a long time horizon.Exploratory, not prescriptive. But the signal quality warrants attention.Full interactive backtest available in Glassnode Studio👇📉glassno.de/3NFyKsm

Digital assets have matured into a functioning, multi-layered economy that can be measured, analysed, and compared against traditional macroeconomic benchmarks.In anew report with WisdomTree, we examine the blockchain ecosystem through familiar economic and market-structure concepts, focusing on observable activity:• Transaction fees as revealed demand for network utility• Security provisioning th...

The Week On-Chain 11, 2026Supply Cleared, Conviction PendingBitcoin has rebounded toward ~$74k as ETF inflows and spot demand recover. Shorts remain crowded with negative funding, while easing options stress suggests improving conditions but still early conviction.Executive Summary- Bitcoin has broken above $70k and entered a thinly accumulated air gap between $72k and $82k, with URPD confirming l...

#Bitcoinrebounded from the $66k higher low, grinding steadily higher through the week with strong daily closes that pushed price back toward $73k.Read more in this week’s Market Pulse👇https://glassno.de/3N9wOsa

A large pocket of negative gamma sits near the $75k strike in#BTCoptions markets.Market makers appear structurally short calls at this level. As spot approaches, hedging flows could intensify, potentially amplifying upside price moves.📈https://glassno.de/471O35p

For near-term expiries (1W), Max Pain appears to act as a dynamic support during uptrends and resistance during downtrends.This adds a derivatives-based reference point to price structure analysis that is rarely available in crypto markets.📉glassno.de/472oSj4