Bitcoin Analysis & Research Leverage Position Openings & Closures: Inferring Leveraged Positioning from Price and Open Interest Discover how Glassnode's Leverage Position Openings and Closures (LPOC) metrics reveal real-time crypto leverage trends by analyzing price and open interest. Move beyond funding rates and liquidation data to identify market tops, bottoms, and systemic risk with greater precision.
The Week On-chain A Return to Profitability Following Bitcoin’s recovery to $107K, many investors are once again in profit. However, current price levels appear less attractive for profit-taking than during the initial $100k breakout, with investor behavior suggesting a renewed phase of HODLing and reduced distribution.
Bitcoin Analysis & Research Bybit + Glassnode: The Lazarus Hack and Market Resilience Report 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.
Market Pulse Market Pulse: Week 27 Bitcoin seems to have entered a cautiously optimistic regime, with stronger positioning from institutional players and renewed accumulation, but still fragile participation on the retail side.
The Week On-chain A Compressed Range Bitcoin remains in a $100k–$110k range as profit-taking slows and activity metrics cool. While support at $99k holds, fading spot volume and cautious futures sentiment suggest limited upside momentum without a significant influx of demand.
Bitcoin Analysis & Research Avenir + Glassnode: Bitcoin's Liquidity Profile 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.
Market Pulse Market Pulse: Week 26 Following the conflicts in the Middle East, Bitcoin broke out of its recent range to the downside. The market appears to be less overheated, and with weakening demand amid renewed uncertainty, the risk of further downside correction remains elevated.
Bitcoin Analysis & Research Gemini + Glassnode: Bitcoin Adoption, Volatility, and Market Cap A joint report by Gemini and Glassnode, this analysis explores Bitcoin’s 2025 institutional landscape - highlighting the rise of sovereign reserves, the dominance of off-chain trading venues, and the structural shift toward long-term custody and macro adoption.
The Week On-chain An On-chain Ghost Town Despite Bitcoin’s elevated price, a clear divergence has emerged between market valuation and network activity. In this report, we explore investor activity across both on and off-chain markets, and examine how network metrics have changed this cycle.
Market Pulse Market Pulse: Week 25 The market sits in a high-risk, not overheated, regime, marked by fading spot strength, elevated profitability, and steady but cautious participation across derivatives and ETFs. Without renewed demand from both retail and institutional investors, the current cooling momentum may persist.
The Week On-chain Market Recovery After recovering from the $101k level, Bitcoin continues its approach towards its ATH. However, under the surface, volatility appears to be brewing across both the on-chain and options market. In this report, we assess the momentum of the current rally and explore key support and resistance levels.
Market Pulse Market Pulse: Week 24 The market has entered a high-risk but not overheated structure, with spot weakness, cautious derivatives, and waning institutional flows. For the uptrend to resume, renewed demand from both retail and institutional participants is essential, otherwise, this cooling phase may persist.
The Week On-chain Seasoned Holders Taking Profit Bitcoin hit a new ATH of $111.8k before retracing, as profit-taking by long-term holders began to weigh on momentum. With key support at $103.7k and $95.6k, and signs of older investors offloading, the bulls now face a critical test of their resolve.
Market Pulse Market Pulse: Week 23 BTC’s rally has stalled below $111K, triggering a broad cooldown. Spot signals show fading momentum, derivatives positioning remains cautious, and ETF flows have slowed. On-chain activity and profitability metrics suggest consolidation—not exit—amid a reassessment phase.
Partner Reports Featured CME + Glassnode: Ethereum Insights and Market Trends H1 2025 A joint publication by CME Group and Glassnode, this report explores Ethereum’s H1 2025 market structure - from protocol upgrades and inflation trends to derivatives and staking data - giving institutional investors critical insights to inform strategic decisions.
Bitcoin Analysis & Research Featured CME + Glassnode: Bitcoin Insight and Market Trends H1 2025 A joint publication by CME Group and Glassnode, this report delivers in-depth analysis of Bitcoin’s H1 2025 market trends - including on-chain flows, ETF activity, and derivatives data - equipping institutional investors with actionable insights for informed decision-making.
The Week On-chain Heating Up Strength in the Bitcoin market persists, with the leading digital asset reaching a new ATH of $111k and setting the third fresh ATH of this cycle. This has resulted in a broad uptick in activity across all major segments of the market.
Market Pulse BTC Market Pulse: Week 22 Latest BTC market developments reflect a maturing rally with emerging signs of a transition from moderation to a more heated structure, warranting close monitoring of investor behavior and market liquidity.
The Week On-chain Approaching All Time Highs Bitcoin’s strong price performance as of recent has significantly improved investor portfolios, prompting many to de-risk and take profit. This wave of fresh capital inflows has pushed Bitcoin’s Realized Cap to a new all-time high above $900B, a major milestone in the asset’s history.
Market Pulse Market Pulse: Week 21 Bitcoin hit $106K, pushing 97% of supply into profit - entering a high-risk, euphoric zone. ETF and Options markets remain strong, but cooling netflows and weakening Spot and Futures activity highlight slowing demand. A correction looms if fresh capital doesn’t return.
The Week On-chain Spot Leads, Derivatives Lag Bitcoin’s rally to $104k appears to be driven by strong accumulation in spot and ETF markets, whilst derivatives markets have been playing catch-up. The rally was fueled by a short squeeze, liquidating many leveraged traders who had bet against the move higher.
Market Pulse BTC Market Pulse: Week 20 The market has now entered a high-risk, high-reward structure, with 94% of supply in profit, NUPL nearing euphoric levels, and the Realized Profit/Loss ratio elevated at 2.38. This reflects growing incentives to realize gains.
The Week On-chain Gaining Ground Momentum increases for Bitcoin with its price climbing to a high of $97.9k, its highest in over two months. The rebound in price has provided significant financial relief to market participants, with over +3M BTC returning to a state of profit.
Market Pulse BTC Market Pulse: Week 19 While macro sentiment remains constructive, fading speculative momentum and rising unrealized gains point to greater sensitivity to downside risk. Read more in our weekly Market Pulse.
The Week On-chain A Structural Reset Bitcoin price momentum is facing its first wave of meaningful resistance, as price attempts to consolidate and break above key technical and on-chain levels. Under the surface, a number of structural resets have occurred across multiple facets of the Bitcoin economy.
