glassnode @glassdnode

Last week marked the first net outflow from $BTC spot ETFs in over two months, interrupting a steady streak of inflows. While modest in size, it reflects a cautious tone as price stalls below $120K.

$ETH spot ETF inflows have slowed after the July surge, but flows remain positive. Despite the recent price pullback, investor appetite hasn’t flipped to net outflows.

For $BTC, the airgap between $109K–$116K is gradually being filled on dips. The staircase pattern points to steady investor engagement over the past month. So far, we see limited distribution from the $118K–$120K range, suggesting these holders are opting to hold through.

Glassnode was cited in the 2025 White House Digital Assets Report - alongside @CoinbaseInsto , with whom we co-authored the Charting Crypto Q3 2025 report. As regulation advances, data-driven insight is more essential than ever. 📄 p. 17: glassno.de/4fflcNE

$BTC Percent Supply in Profit has held above 90% for over a month. When nearly all holders sit on gains, pressure to realize profits builds. The +1 standard deviation of this metric sits at 91% - a key level to watch for now. A break lower could signal a deeper reset.

Swissblock @swissblock__

2 months ago

$BTC Percent Supply in Profit has held above 90% for over a month. When nearly all holders sit on gains, pressure to realize profits builds. The +1 standard deviation of this metric sits at 91% - a key level to watch for now. A break lower could signal a deeper reset.

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Over the past 24 hours, the vast majority of $BTC spent volume came from Short-Term Holders (STH): 🔸STH: $18.24B (85.5%) 🔸LTH: $3.10B (14.5%) 🔸Total spent: $21.34B This suggests the sell-off is primarily driven by recent buyers rather than long-term investors.

Despite $BTC down -3.2% and $ETH -6%, liquidations remain low ($110M/$132M) and OI drawdowns are modest. This move looks more like spot-driven selling than a derivatives flush. No signs of a leverage cascade yet.

The 30-day moving average of $USDT transfer volume across major blockchains has been steadily rising since the early 2022 surge and crash, now reaching $52.9B. This gradual climb reflects a slow but consistent recovery in #stablecoin velocity and market activity.

Based on the data from July 30, 2025, the share of major blockchains from the aggregated transfer volume of USDT is as follows: 🔹Tron: 23.0B 🔹BNB Chain: 14.9B 🔹Ethereum: 13.3B 🔹Ton: 94.7M 🔹Optimism: 60.4M 🔹Solana: 780.4M 🔹Arbitrum: 638.3M glassno.de/4l6aIRY

Since Jan to May 2025, #Tron led USDT transfer volume with over 55%, followed by #Ethereum at over 27%. But since May, the dynamics shifted - $BNB Chain surpassed Ethereum, now accounting for over 30% of total USDT transfer volume across major blockchains. glassno.de/4m1b1z4

Glassnode’s CCO Daniel Blackmore joins @DeribitOfficial's Crypto Options Unplugged to unpack #ETH’s improving setup: capital rotation from $BTC, tightening liquidity, and options markets turning. Give it a listen to learn how on-chain data offers a clearer view of the shift…

Deribit @DeribitOfficial

2 months ago

Glassnode’s CCO Daniel Blackmore joins @DeribitOfficial's Crypto Options Unplugged to unpack #ETH’s improving setup: capital rotation from $BTC, tightening liquidity, and options markets turning. Give it a listen to learn how on-chain data offers a clearer view of the shift…

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A composite index of age-based cohorts shows most new #Bitcoin holders remain in profit. With the index trending toward +1σ, market momentum remains broadly constructive.

$BTC remains above all STH sub-cohort cost bases (24hrs–3m range: $110K–$117K). This alignment with the light-volume zone suggests strong underlying support in the event of a pullback.

Despite $ETH trading near its March 2024 highs, unrealized profits are far lower. Back then, #ETH hit +2σ (standard deviations) on Relative Unrealized Profit at $3.98K - today it's just nearing +1σ. A move to +2σ now would imply ~$4.9K $ETH.

#Bitcoin's Unrealized Profit as a percentage of Market Cap broke above the +2σ band, a level historically tied to euphoric phases. The setup mirrors previous ATH environments, reinforcing latent sell-side pressure.

Total unrealized profit of all $BTC holders hit a new high of $1.4T. This massive paper gain concentration sets the stage for potential future distribution pressure if prices continue higher.

#Bitcoin Long-Term Holders - investors who held for 155 day or more - still command 53% of supply despite recent distribution. The enduring concentration signals more supply could unlock if price rises - requiring sustained demand to absorb it.

The LTH/STH Supply Ratio - comparing $BTC supply held by long-term investors to new entrants - dropped -11% over 30 days, reflecting continued rotation into distribution. This pattern has preceded prior ATHs and highlights a structurally consistent shift in investor positioning.

#Bitcoin absorbed a $9.6B sell-off over the weekend as 80k BTC moved via OTC desks. Yet, the market impact was minimal - showcasing deep liquidity and structural resilience. Read the latest Week On-Chain for full postmortem of this event: glassno.de/4lTDhU8

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#ETH’s +1σ Active Realized Price band - currently at $4.5K - marks a key upside threshold for the current rally. This level acted as resistance in March 2024 and during the 2020–21 cycle. Breakouts above it often signal market euphoria and rising risk of structural instability.