¡Ya disponible! Investigación de Telegram 2025 — los principales insights del año 
Glassnode
Ir al canal en Telegram
Institutional Data and Market Intelligence for Digital Assets. https://studio.glassnode.com/
Mostrar más📈 Análisis del canal de Telegram Glassnode
El canal Glassnode (@glassnode) en el segmento lingüístico de Inglés es un actor destacado. Actualmente la comunidad reúne a 44 375 suscriptores, ocupando la posición 2 829 en la categoría Criptomonedas y el puesto 710 en la región Malasia.
📊 Métricas de audiencia y dinámica
Desde su creación el невідомо, el proyecto ha mostrado un crecimiento acelerado, reuniendo a 44 375 suscriptores.
Según los últimos datos del 22 junio, 2026, el canal mantiene una actividad estable. En los últimos 30 días la variación de miembros fue de -443, y en las últimas 24 horas de -14, conservando un alto alcance.
- Estado de verificación: No verificado
- Tasa de interacción (ER): El promedio de interacción de la audiencia es 10.27%. Durante las primeras 24 horas tras publicar, el contenido suele obtener 5.57% de reacciones respecto al total de suscriptores.
- Alcance de las publicaciones: Cada publicación recibe en promedio 4 556 visualizaciones. En el primer día suele acumular 2 473 visualizaciones.
- Reacciones e interacción: La audiencia responde de forma activa: el promedio de reacciones por publicación es 15.
- Intereses temáticos: El contenido se centra en temas clave como inflow, investor, eth, basis, cycle.
📝 Descripción y política de contenido
El autor describe el recurso como un espacio para expresar opiniones subjetivas:
“Institutional Data and Market Intelligence for Digital Assets.
https://studio.glassnode.com/”
Gracias a la alta frecuencia de actualizaciones (últimos datos recibidos el 23 junio, 2026), el canal mantiene la vigencia y un amplio alcance. La analítica demuestra que la audiencia interactúa activamente con el contenido, lo que lo convierte en un punto de referencia dentro de la categoría Criptomonedas.
44 375
Suscriptores
-1424 horas
-1147 días
-44330 días
Archivo de publicaciones
44 374
📢 We’ve just launched Strategy Watch – Glassnode’s new monthly analysis of fund performance and institutional capital flows in digital assets.
Download the inaugural edition: https://glassno.de/4u7QGfF
Each issue combines aggregated manager survey data with on-chain and market intelligence to track:
🔹 Institutional capital flows
🔹 Strategy performance dispersion
🔹 Manager positioning and cash levels
🔹 SMA adoption and mandate shifts
🔹 Allocation activity
If you allocate capital, manage crypto strategies, or shape investment mandates, this is your monthly read on where returns are concentrating and how institutions are positioning.
📩 Subscribe to receive it monthly: https://glassno.de/4l5HrII
44 374
Perpetual Open Interest posted its largest daily % increase since July 2025.
Leverage expanded as price tested $69.4k, consistent with speculators betting on a $70k breakout that didn't materialize.
📈glassno.de/4u0lkrj
44 374
🔄UPDATE:
The $70k ceiling holds!
Feb 19 → Feb 25 → Mar 03, 02:00 UTC.
Each time the 12HR-SMA of Net Realized P&L spiked above $5M/hr, price stalled and reversed at the $69.4k range high. This region continues to cap every recovery attempt. The asymmetry reflects the fragility of the current demand structure.
Until this level of profit-taking can be absorbed without triggering rejection, $70k remains a ceiling, not a floor.
📉glassno.de/4kHB925
44 374
#BTC stabilises as momentum and on-chain activity improve, while derivatives stay cautious. Selling pressure eases but capital flows remain fragile, signalling a tentative recovery backdrop.
Read more in this week’s Market Pulse👇
https://glassno.de/4cW6KuS
44 374
Feb 25, 18:00 UTC — this pattern repeated.
Smoothed Net Realized P&L exceeded $5M/hr. Price peaked at $69.4k and stalled.
Profit-taking continues to absorb momentum at the $70k threshold, consistent with a thin liquidity regime where even modest realization events are sufficient to suppress recovery attempts.
📉http://glassno.de/4kHB925
44 374
The Week On-Chain 8, 2026
#BTC is range-bound between key valuation anchors, with $60k–$69k absorbing sell pressure. Profitability and breadth are fading, spot and ETF flows stay negative, and leverage has reset.
Executive Summary
- Bitcoin remains range-bound between $60k–$70k at a 47% drawdown from ATH, a depth historically aligned with mid-to-late bear market phases.
- Nearly 9.2M BTC are now held at a loss, yet accumulation remains weak, with the Accumulation Trend Score below 0.5, signaling limited conviction from larger entities.
- The 90D Realized Profit/Loss Ratio has fallen below 1.0, confirming an excess loss regime and structurally impaired liquidity, keeping downside risk elevated.
- Market breadth remains weak, as fewer assets sustain positioning above long-term trend baselines, confirming underlying structural softness.
- Large entity accumulation remains constructive in structure but has slowed in pace, reducing a key source of marginal upside support.
- Spot CVD has turned decisively negative across major venues, signaling active distribution. ETF flows remain in persistent outflow, confirming institutional demand is not providing a structural bid.
- Perpetual funding rates have normalized toward neutral, indicating leverage has reset. However, the absence of sustained positive funding reflects muted speculative appetite rather than renewed bullish conviction.
- Implied volatility has reacted to downside moves but failed to expand meaningfully, suggesting options markets are stabilizing rather than pricing systemic stress.
Read more in The Week On-Chain
44 374
#BTC options positioning has flipped.
Our full-history GEX heatmap shows expanding negative gamma (red) around and below spot, while positive “gamma walls” thin out above.
With price in a short-gamma pocket, dealer hedging can amplify moves.
https://glassno.de/46LyIG3
44 374
#Bitcoin stayed range-bound around ~$64–68K, momentum modestly improving but participation weak. Sell pressure eased slightly yet spot, derivatives, ETF, and on-chain indicators remain defensive.
Read more in this week’s Market Pulse👇
https://glassno.de/4rzXTnf
44 374
#Bitcoin stayed range-bound around ~$64–68K, momentum modestly improving but participation weak. Sell pressure eased slightly yet spot, derivatives, ETF, and on-chain indicators remain defensive.
Read more in this week’s Market Pulse👇
https://glassno.de/4rzXTnf
44 374
The 7D-EMA of Net Realized Profit & Loss for recent investors plunged to –$1.24B/day on Feb 06, before moderating to –$0.48B/day today.
While the intensity has cooled, the broader regime still signals a market under pressure, with participants in the base formation phase continuing to capitulate.
📉 glassno.de/4cadTHO
44 374
The 90D-SMA of top crypto assets' Change in Open Interest [%] has remained negative since October 2025.
The speculative premium, and with it derivatives liquidity, continues to contract.
Leverage appetite has yet to return, reinforcing the broader risk-off regime.
📉 http://glassno.de/4ooZ5rT
44 374
Since the new ATH in early October, US Spot ETF balances have posted their largest drawdown of this cycle, down ~100.3k BTC.
Institutional de-risking has added structural weight to the ongoing weakness, reinforcing the broader risk-off environment.
📉 http://glassno.de/4tJOR8r
44 374
Range-Bound Under Pressure
Executive Summary
Bitcoin has slipped below the True Market Mean (~$79k), with the Realized Price (~$54.9k) defining the lower structural boundary. In the absence of a macro catalyst, this range is likely to frame the mid-term environment.
Sell pressure continues to be absorbed within the $60k–$69k demand cluster formed in H1 2024. The Holder conviction at breakeven has supported a transition into consolidation.
Liquidity remains constrained, with the 90D Realized Profit/Loss Ratio stuck between 1–2. Capital rotation is limited, and the broader backdrop remains cautious.
ETF flows have rotated back into persistent outflows, removing a key structural bid. Institutional demand is no longer cushioning downside.
The volatility risk premium is normalizing as realized volatility remains elevated and implied retraces. Panic-driven flows are fading, with markets shifting toward range-bound expectations.
Read the full Week On-Chain👇
https://glassno.de/4qHi80M
44 374
Since early February, every attempt to reclaim $70k has met demand exhaustion, with even >$5M/hour in net realized profit triggering rejection.
Contrast that with Q3 2025’s euphoric phase, when profit realization surged to $200–350M/hour.
Ongoing regime of thin liquidity makes a sustained recovery into the $70–80k range structurally challenging.
📉http://glassno.de/4kHB925
44 374
BTC Realized Profits-to-Value (30D MA) has retraced sharply, unwinding much of the prior profit-taking impulse. However, it remains above the historical capitulation band.
This suggests profit realization is cooling, but not yet broad capitulation.
https://glassno.de/40fcpoa
44 374
During the first sharp leg down in NOV 2025, the market absorbed heavy sell pressure aggressively, similar to the post-LUNA & FTX crash responses.
The recent drop to $60k did see some accumulation, but it was notably weaker than the NOV 2025 bounce or the reflexive demand seen after the LUNA collapse.
📉http://glassno.de/3OgO6Uo
44 374
The LTH Cost Basis Distribution (CBD) Heatmap maps supply density across price levels.
The recent support above $65k is anchored in the 2024 H1 accumulation range. This demand zone has absorbed recent sell pressure.
A decisive break would likely open the path toward Realized Price (~$54k).
📈http://glassno.de/4aRWHW9
44 374
#Bitcoin spent the past week rebounding to $70K and stalling into the high $60Ks. The structure still looks reactive, with attempts to recover meeting overhead supply and follow-through remaining limited.
Read more in this week’s Market Pulse👇
https://glassno.de/4aBgpUX
44 374
The Week On-Chain 6, 2026
Bitcoin remains defensive in the $60k–$72k zone while overhead supply caps rallies. Treasury outflows, reactive spot volume, and cooling futures signal shallow demand.
Executive Summary
- Bitcoin remains confined between the True Market Mean (~$79.2k) and the Realized Price (~$55k), reflecting a defensive regime following the structural breakdown, with sell-side pressure continuing to be absorbed in the $60k–$72k demand corridor.
- Large supply clusters at $82k–$97k and $100k–$117k sit in unrealized loss, creating overhead resistance potential during relief rallies.
- Short-Term Holder profitability remains negative, underscoring fragile conviction among recent buyers and limiting upside follow-through.
- Digital Asset Treasury flows have flipped into synchronized net outflows, signalling broad institutional de-risking and shallow spot absorption.
- Spot volume spiked during the selloff but failed to sustain, indicating reactive participation rather than constructive accumulation.
- Perpetual futures positioning has cooled, with directional premiums compressing as leveraged traders step back and speculative momentum fades.
- Implied volatility and skew reflect persistent downside hedging demand, consistent with a defensive market posture.
- Dealer gamma and options positioning are reinforcing reactive price behaviour, keeping moves short-lived amid fragile liquidity conditions.
Read more in The Week On-Chain
