Glassnode

New metric announcement! We're proud to announce Leverage Position Openings and Closures - a new suite of metrics for professional traders: https://glassno.de/3Tk3Hlp Funding rates and liquidation data have long been used to gauge leverage in crypto markets - but they often miss the full picture. They're reactive, exchange-dependent, and limited in scope. Glassnode's new Leverage Position Openings and Closures (LPOC) metric fills this gap. By analyzing the alignment between price and open interest, LPOC identifies when leveraged long or short positions are being opened or closed - capturing both voluntary and forced position changes in real time. This gives traders, risk teams, and market analysts a more immediate and comprehensive view into positioning dynamics. It helps: - Detect market tops from aggressive long buildup - Identify bottoms via long squeeze zones - Track short squeezes through reversals in short positioning - Monitor systemic risk across assets with cross-market signals - Assess positioning trends beyond funding rates and liquidations This is a game changer for anyone navigating short-term volatility, identifying structural imbalances, or managing risk in derivative-heavy markets.

The Q3 2025 edition of Charting Crypto with Coinbase Institutional is live! Bitcoin dominance surged to 64% in Q2 - its highest since early 2021 - as capital rotated into high-liquidity assets. Ethereum sentiment flipped from capitulation to belief, and long-term holders used the rally to realize gains, distributing to new entrants. These are just a few of the key market structure shifts covered in the latest edition of Charting Crypto, a quarterly report for institutional allocators. Download the full report for a data-driven view of ETF flows, stablecoin volumes, volatility trends, and investor positioning: https://glassno.de/4lTlXOy

Bitcoin supply continues to tighten. Long-term holders and smaller investors are accumulating more than the monthly issuance, reducing available supply. At the same time, volatility is compressing across both spot and derivatives markets. Realized and implied volatility are at multi-year lows - conditions that historically precede sharp market moves. ETF demand remains strong, with total AUM hitting a new ATH of $137B, led by BlackRock’s IBIT. The market is coiling. A breakout looks increasingly likely. Discover more in the latest Week On-Chain report: https://glassno.de/4ksMe55

The full recording of our joint webinar with Avenir Group - Bitcoin’s Liquidity Trifecta - is now available to watch on demand. We explored how Bitcoin is evolving into a macro-responsive, structurally liquid asset, and why this cycle is fundamentally different from previous ones. Key topics covered include: – Why $550M/day in capital inflows are required to sustain Bitcoin’s current trajectory – How ETF inflows reveal authentic, long-term institutional demand—not just basis trades – What derivatives market structure tells us about the maturity of the crypto ecosystem – Why mid-cap altcoins are struggling, while capital concentrates in BTC and speculative SPL tokens – How Bitcoin has become a real-time barometer for global liquidity conditions If you’re looking to better understand the structural forces shaping the digital asset market in 2025, this session is well worth your time. Watch the full webinar here: glassno.de/462SehG

Over the weekend, we hosted clients and partners alongside Swissblock Technologies AG at the Silverstone Grand Prix. It’s rare we get the chance to meet with our close clients and partners in person in such a unique setting. The event provided a perfect environment to exchange views on recent market developments and spend quality time together trackside. Thank you to everyone who made the trip up to Silverstone for a fantastic day.

After finding support at $98.3k, Bitcoin has rebounded to $107k - pushing most holders back into profit. But instead of taking gains, investors are holding firm: • Realized profits remain muted • Liveliness trends down • Long-Term Holder supply hits ATH The data points to renewed HODLing behavior and a reluctance to distribute, even near all-time highs. With improved stablecoin purchasing power and consistent institutional inflows, the market may be preparing for its next move. Learn more in the latest Week On-Chain Report: https://glassno.de/3TmVeOf

In February 2025, $1.4B in ETH was stolen from Bybit in one of the largest exchange breaches to date. But unlike prior similar incidents, the event did not trigger systemic fallout. Our new report with Bybit examines how the market absorbed this shock - using proprietary metrics to assess exchange risk, liquidity conditions, and derivatives positioning across BTC, ETH, and SOL. Key insights: • ETH reserves recovered from 236k to 729k • Open interest fully rebounded and surpassed pre-incident levels • Liquidity metrics normalized within weeks • Whale and internal flow diagnostics showed rapid stabilization Whether you’re a strategist, risk manager, or institutional allocator, this report offers a forensic look at real-time capital movements, investor behavior, and exchange resilience during one of the most critical inflection points of 2025. Download it here: https://glassno.de/45ORaOj

𝗝𝗼𝗶𝗻 𝘂𝘀 𝘁𝗼 𝘂𝗻𝘃𝗲𝗶𝗹 𝗼𝘂𝗿 𝗹𝗮𝘁𝗲𝘀𝘁 𝗕𝗧𝗖 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗿𝗲𝗽𝗼𝗿𝘁 𝗴𝗹𝗼𝗯𝗮𝗹𝗹𝘆 𝟮 𝗝𝘂𝗹𝘆 𝟮𝟬𝟮𝟱 - 𝗡𝗲𝘄 𝗬𝗼𝗿𝗸 𝟭𝟭:𝟬𝟬𝗔𝗠 (𝗨𝗧𝗖-𝟰) | 𝗟𝗼𝗻𝗱𝗼𝗻 𝟰:𝟬𝟬𝗣𝗠 (𝗨𝗧𝗖+𝟭) | 𝗛𝗼𝗻𝗴 𝗞𝗼𝗻𝗴 𝟭𝟭:𝟬𝟬𝗣𝗠 (𝗨𝗧𝗖+𝟴) https://lnkd.in/gZGHfpCb We are excited to invite you to our upcoming webinar, where Kelly Ye, CFA, Deputy CIO at Avenir Group and UkuriaOC Sr Analyst at Glassnode globally unveil our latest industry report, "𝗕𝗶𝘁𝗰𝗼𝗶𝗻’𝘀 𝗟𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆 𝗧𝗿𝗶𝗳𝗲𝗰𝘁𝗮: 𝗨𝗻𝗽𝗮𝗰𝗸𝗶𝗻𝗴 𝗟𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆 𝗔𝗰𝗿𝗼𝘀𝘀 𝗢𝗻-𝗖𝗵𝗮𝗶𝗻 𝗗𝗮𝘁𝗮, 𝗠𝗮𝗿𝗸𝗲𝘁 𝗠𝗶𝗰𝗿𝗼𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲, 𝗮𝗻𝗱 𝗠𝗮𝗰𝗿𝗼 𝗗𝗿𝗶𝘃𝗲𝗿𝘀". Be part of the first global audience to experience this exclusive live walkthrough, featuring key insights and actionable takeaways from the experts who created the report. 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗡𝗼𝘄: https://lnkd.in/gZGHfpCb #BTC #Glassnode #Report #AvenirGroup

We partnered with Avenir Group to launch our joint research report, Bitcoin’s Liquidity Trifecta, exploring the interplay between on-chain flows, market microstructure, and macro conditions in shaping Bitcoin’s market behaviour. To mark the launch, we participated in a live panel discussion, featuring Glassnode's Institutional Director Anton F., alongside Helena Lam (Avenir Group) and moderator James Aitchison (Caerus Global Management). Thank you to everyone who contributed to an engaging conversation about how institutional flows, ETF activity, and global liquidity cycles are reshaping #Bitcoin’s market structure. If you haven’t yet, you can access the full research report here: https://glassno.de/40lyF05

Bitcoin is stuck in a tight $100k–$110k range. Investor engagement is cooling, with spot and on-chain volumes down sharply. Even the futures market, while active, shows signs of caution as funding rates decline. Without a pickup in demand and conviction, the market may stay directionless. This week’s Week On-Chain report breaks down the key dynamics and where pressure is building: https://glassno.de/4lsYeod