Bitcoin News
By Evie Vavasseur
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Futures and On-Chain Activity Both Stall. Glassnode's Week 31 market analysis tracked Bitcoin's slide from $66,700 down to $64,000, with a…
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Long-Term Holders Are Still Holding. Here's the thing that's kept Bitcoin from falling apart: long-term holders aren't selling.
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What Could Shift the Picture. The derivatives side is worth watching more carefully.
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Bitcoin's got a problem. Four straight days of ETF outflows, stalling futures activity, and on-chain capital basically going nowhere — and the $64,000 level is now a very real…
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The price has been hovering around $64,200, which sounds stable until you look at what's underneath. US spot Bitcoin ETF demand has cracked pretty hard.
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On-chain, it's murky. Active addresses haven't grown in any meaningful way. Economic settlement levels are subdued. New capital isn't flowing in at any real pace.
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Options markets shifted too. The number of open put contracts per 100 calls dropped to 52, down from 76 in June. Fewer traders are buying downside protection.
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Here's the thing that's kept Bitcoin from falling apart: long-term holders aren't selling. Aggregate unrealized losses and realized losses have both declined for this group, per…
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And it matters a lot. If long-term holders stay put, Bitcoin probably keeps grinding near these levels.
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More context: Meta AI Sees Bitcoin Hitting $78K as CLARITY Act Vote Looms
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The on-chain data doesn't paint a picture of panic. Transaction pressure is subdued. Settlement activity is restrained. There's no flood of coins moving to exchanges.
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The derivatives side is worth watching more carefully. Open interest going up while buy-side aggression goes down is a weird combination.
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ETF flows are the more immediate concern. Four sessions of outflows in a row isn't catastrophic, but it's a signal.
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Related: Clear Creeks $15.1M Crypto ETF Bet Spans Bitcoin, Ethereum, XRP, and Solana
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The options reduction in downside hedging is interesting too. Dropping from 76 puts per 100 calls to 52 is a real move.
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