📊 The Week On-Chain 13, 2026
No Catalyst, No Range Break
Bitcoin remains rangebound between $60k and $70k as spot demand shows early absorption and derivatives reset. Volatility cools and positioning balances, but without a clear catalyst, the market lacks the conviction needed for a sustained breakout.
Executive Summary
- Total Supply in Loss sits near 8.4M BTC, echoing the Q2 2022 structure, when roughly 3M BTC needed to be redistributed before the market could reclaim its cycle mid-line.
- Coinbase Spot CVD has turned marginally positive, suggesting spot buyers are starting to absorb sell-side pressure, though demand remains well below the levels typically seen at durable lows.
- Perpetual positioning is now far less momentum-driven, with bullish exposure being unwound and short-side interest re-emerging, leaving futures more balanced but also more cautious.
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No Catalyst, No Range Break
Bitcoin remains rangebound between $60k and $70k as spot demand shows early absorption and derivatives reset. Volatility cools and positioning balances, but without a clear catalyst, the market lacks the conviction needed for a sustained breakout.
Executive Summary
- Total Supply in Loss sits near 8.4M BTC, echoing the Q2 2022 structure, when roughly 3M BTC needed to be redistributed before the market could reclaim its cycle mid-line.
- Coinbase Spot CVD has turned marginally positive, suggesting spot buyers are starting to absorb sell-side pressure, though demand remains well below the levels typically seen at durable lows.
- Perpetual positioning is now far less momentum-driven, with bullish exposure being unwound and short-side interest re-emerging, leaving futures more balanced but also more cautious.
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🕊1
🆕 $QQQ, $SPY, $AAPL, $TSM listed on Binance futures link
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💰 #BTC Metaplanet acquired 5,075 BTC in Q1, resulting in a total asset of 40,177 BTC. This ranks the company third among those with the largest BTC reserves. link
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🐳1
🕵️ #SAFE Safe Foundation, the organization behind a non-custodial multi-signature wallet, has launched Safenet, a decentralized network for secure transactions.
theblock link
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theblock link
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🧑💻 Cointelegraph CEO Yana Prikhodchenko opens Cointelegraph Connect: Cannes, highlighting AI-era startup challenges.
“As AI makes it faster than ever to launch a startup, the real challenge is no longer building a polished product.
It’s building something that solves a real problem, has healthy unit economics, and can find its market.”
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“As AI makes it faster than ever to launch a startup, the real challenge is no longer building a polished product.
It’s building something that solves a real problem, has healthy unit economics, and can find its market.”
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🧑💻 #BTC Bitcoin Block 943,400
Only 1,600 blocks (~11 days) until we hit the halfway point to the next halving.
Block 945,000 is coming.
glassno.de/4v5TASP
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Only 1,600 blocks (~11 days) until we hit the halfway point to the next halving.
Block 945,000 is coming.
glassno.de/4v5TASP
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🇺🇸 #macro USA - Initial Jobless Claims = 202k (exp 212k / prev 210k)
- Continuing Jobless Claims = 1.841M (exp 1.840M / prev 1.819M)
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- Continuing Jobless Claims = 1.841M (exp 1.840M / prev 1.819M)
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🇺🇸 #macro USA - Trade Balance (Feb) = -$57.3 billion
Expected: -$60.5 billion
Previously: -$54.5 billion
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Expected: -$60.5 billion
Previously: -$54.5 billion
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🕵️ #ETH CQ: The ETH reserve on Binance has dropped below the minimum of February 2024, while USDT and USDC reserves are increasing.
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🕵️ Drift Loses $285 Million: Did Hackers Deal a Fatal Blow to Bear-Market DeFi?
Around April 2, 2026, multiple on-chain monitoring accounts and media outlets reported unusual fund outflows from Drift Protocol, a Solana-based integrated derivatives and lending protocol. link
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Around April 2, 2026, multiple on-chain monitoring accounts and media outlets reported unusual fund outflows from Drift Protocol, a Solana-based integrated derivatives and lending protocol. link
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📊 Aster One Year: From Perp DEX Challenger to Trading Native Infra
In markets like Perp DEX, which are still in the early stages, there are no definitive answers or best paths. Many industry consensus principles often apply only in mature phases, while in truly innovative areas, decisions and execution are more often based on judgment. Aster's Perp DEX users are, in essence, already Aster Chain users. link
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In markets like Perp DEX, which are still in the early stages, there are no definitive answers or best paths. Many industry consensus principles often apply only in mature phases, while in truly innovative areas, decisions and execution are more often based on judgment. Aster's Perp DEX users are, in essence, already Aster Chain users. link
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🥷 Arthur Hayes questions whether native multisig on Solana could have prevented the Drift hack. #hack
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⚖️ YZi Labs (formly Binance Labs) announced a strategic follow-on investment in Predictfun.
Predictfun is now matching over 4 million orders and driving $1.8B+ in volume. YZi Labs said its continued investment reflects strong conviction in the prediction market sector. link
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Predictfun is now matching over 4 million orders and driving $1.8B+ in volume. YZi Labs said its continued investment reflects strong conviction in the prediction market sector. link
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