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XRP’s futures OI has fallen from 1.7B XRP in early October to 0.7B XRP (~59% flush-out). Paired with the funding rate dropping from ~0.01% to 0.001% (7D-SMA), 10/10 marked a structural pause in XRP speculators’ appetite to bet aggressively on upside. 📉 http://glassno.de/4pwZ0Cw

$BTC sits beneath every short-term holder's realized price but remains well above deeper realized levels, leaving the market in no-man’s-land. Regaining these bands would mark the first meaningful sign of structural recovery. 📉https://glassno.de/4rlNr2Y

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The $2.0 level remains a major psychological zone for Ripple holders. Since early 2025, each time XRP has retested $2, investors have realized $0.5B–$1.2B per week in losses. This underscores how heavily this level influences spending behavior. 📉http://glassno.de/4obHgvn

$BTC broke below $90K and tested $80K before a mild rebound. Momentum stays oversold but shows early signs ofnexhaustion. Derivs and spot flows remain weak, pointing to orderly de-risking. Read more in this week’s Market Pulse👇 https://glassno.de/49yJ5iz

$BTC broke below $90K and tested $80K before a mild rebound. Momentum stays oversold but shows early signs ofnexhaustion. Derivs and spot flows remain weak, pointing to orderly de-risking. Read more in this week’s Market Pulse👇 https://glassno.de/49yJ5iz

The shift from a confirmed bull to a true bear market often comes after multiple major on-chain price models fail: 🔴STH Cost Basis: $109.8K 🟡Active Investors Mean: $88.6K 🟢True Market Mean: $82K 🔵Realized Price: $56.1K We are now testing Active Investors Mean. A breakdown below both Active Investors and the True Market Mean would mark the first major confirmation of a deeper bear trend since May 2022. 📊 http://glassno.de/3XDy2xe

The Week On-Chain 46, 2025 BTC has broken below key cost-basis levels amid weak spot demand and steady ETF outflows. Derivatives remain muted, with declining OI, cycle-low funding, and options activity skewed toward downside protection. Executive Summary - Bitcoin has broken below the STH cost basis and the −1 STD band, placing recent buyers under stress; the $95K–$97K region now acts as key resistance, and a reclaim would mark an early step toward restoring market structure. - Spot demand remains weak, with US spot ETF flows deeply negative and no incremental bid emerging from TradFi allocators. - Speculative leverage continues to unwind, reflected in declining futures open interest and funding rates falling to cycle lows across the top 500 assets. - Options markets have sharply repriced risk, with implied volatility rising across maturities and skew remaining deeply negative as traders pay significant premiums for downside protection. - Put-dominant flow and demand at key strikes (e.g., 90K) reinforce a defensive positioning regime, with traders hedging more actively rather than adding upside exposure. - DVOL has returned to monthly highs, tying together the broad repricing of risk across volatility, skew, and flow metrics and signalling expectations for elevated near-term volatility. Read more in The Week On-Chain

#BTC has broken below the 0.75 cost-basis quantile, a level that has historically marked bear-market territory. Across cycles, reclaiming and holding above it has been key to restoring bullish structure. Bulls will want to see this level regained. 📉https://glassno.de/4o6648m

The share of XRP supply in profit has fallen to 58.5%, the lowest since Nov 2024, when price was $0.53. Today, despite trading ~4× higher ($2.15), 41.5% of supply (~26.5B XRP) sits in loss — a clear sign of a top-heavy and structurally fragile market dominated by late buyers. 📉 http://glassno.de/48pwOef

Bitcoins' downtrend pushed prices to $93K, with momentum oversold and sell-side pressure easing. Flows and on-chain activity have softened, suggesting early signs of stabilization in the $94K–$100K range. Read more in this week’s Market Pulse👇 https://glassno.de/49uahz3

At $96K, nearly 99% of investors who accumulated Bitcoin within the past 155 days are now holding at a loss 📉https://glassno.de/47GyFfn

Long-term #BTC holders are accelerating their distribution, with supply declining fast and net position change falling sharply into negative territory. LTHs are booking profits as bulls defend $100k. https://glassno.de/3XrNOLy

The Week On-Chain 45, 2025 #Bitcoin consolidates above $100k, with support near $100K and resistance at $106K. ETF outflows, low leverage, and strong put demand highlight a cautious market still searching for conviction. Executive Summary - Bitcoin remains in a mild bearish phase, trading between $97K and $111.9K, with resistance near $116K marked by top-buyers’ supply cluster. - Seller exhaustion and renewed accumulation near $100K provide short-term support but lack strong follow-through demand. - A dense supply cluster between $106K–$118K continues to cap rallies as investors exit near breakeven. - ETF flows have turned modestly negative, reflecting fading institutional demand and a cautious risk appetite. - Futures markets show muted funding rates and low open interest, signalling subdued speculative activity across both Bitcoin and altcoins. - Options traders maintain a defensive stance, with put protection concentrated around $100K, while the 25-delta skew remains a key gauge for sentiment shifts. - Overall, the market is consolidating within a defined range, awaiting stronger inflows or macro catalysts to break out of the current equilibrium. Read more in The Week On-Chain

The majority of #Bitcoin supply sits in long-term holder’s hands, while Ethereum shows greater turnover and productive use on-chain. In our joint research with Keyrock, we assess how BTC and ETH supply dynamics shape their respective store-of-value profiles. Grounded in on-chain data, our analysis cuts through the narratives, showing Bitcoin’s dominant savings-asset profile and Ethereum’s hybrid position as both reserve capital and working collateral within DeFI. Read the report for full insights: https://glassno.de/47F7FNu

Since early October, U.S. Bitcoin ETFs have shown signs of weakness, with a few positive days, but mostly net outflows reaching up to -$700M per day. This trend points to a broader de-risking phase among ETF investors. 📉https://glassno.de/4oN6SQ5

#Bitcoin futures open interest remains muted following October’s leverage flush, showing little sign of new speculative build-up. Derivatives activity has slowed materially, mirroring the broader backdrop of subdued market sentiment. 🔗https://glassno.de/47Ksfup

Bitcoin has bounced from $100K to $106K, with momentum improving and selling pressure easing. On-chain activity and reduced leverage point to early signs of stabilization after October’s drawdown. Read more in this week’s Market Pulse👇 https://glassno.de/3LwDkIk