After a major market move, staying objective can be difficult. Glassnode’s latest weekly report breaks down the recent liquidation cascade, who bought the squeeze, and the overhead supply BTC now faces.
👉 The data gives a clearer picture of what is happening beneath the price action and what could come next.
👉 The data gives a clearer picture of what is happening beneath the price action and what could come next.
🇬🇧 LATEST: The UK counted 240 crypto millionaires in the 2024–2025 tax year, with the group reporting a combined $975M in capital gain.
🚨 Abraxas Capital makes a major move with $ETH 👀
A wallet known for Abraxas Capital’s LONG & BORROW activity just made a notable move:
• $37.2M USDC withdrawn from #Binance
• Funds were sent to #Spark as a debt repayment
• Shortly after, Abraxas withdrew 20,000 $ETH ($49.9M) — previously used as collateral
The 20K $ETH has not made any further moves and is currently sitting in the wallet.
On Spark:
• Collateral: 58,269 ETH → 38,269 ETH
• Debt decreased accordingly
Looks like Abraxas is actively deleveraging / unwinding part of its leveraged ETH position rather than immediately selling the withdrawn $ETH. 👀
A wallet known for Abraxas Capital’s LONG & BORROW activity just made a notable move:
• $37.2M USDC withdrawn from #Binance
• Funds were sent to #Spark as a debt repayment
• Shortly after, Abraxas withdrew 20,000 $ETH ($49.9M) — previously used as collateral
The 20K $ETH has not made any further moves and is currently sitting in the wallet.
On Spark:
• Collateral: 58,269 ETH → 38,269 ETH
• Debt decreased accordingly
Looks like Abraxas is actively deleveraging / unwinding part of its leveraged ETH position rather than immediately selling the withdrawn $ETH. 👀
Fed Chair Kevin Warsh’s keynote speech at Jackson Hole:
• Inflation remains too high, and the Fed’s predominant focus should be on prices
• The 2% PCE inflation target is “firm and fixed”
• Summer inflation data improved, but underlying trends have not meaningfully changed
• The Fed still has work to do unless inflation returns to target “clearly and at sufficient speed”
• Labor markets remain stable and consistent with full employment
• Broad financial conditions are not restrictive
• A “good majority” favored waiting before changing interest rates in July
• Inflation remains too high, and the Fed’s predominant focus should be on prices
• The 2% PCE inflation target is “firm and fixed”
• Summer inflation data improved, but underlying trends have not meaningfully changed
• The Fed still has work to do unless inflation returns to target “clearly and at sufficient speed”
• Labor markets remain stable and consistent with full employment
• Broad financial conditions are not restrictive
• A “good majority” favored waiting before changing interest rates in July
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