Glassnode
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Institutional Data and Market Intelligence for Digital Assets.

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$BTC is consolidating near $64.5K, supported by strong profitability and stable derivatives. Rising hot capital and sell-side pressure, however, leave the market increasingly sensitive to volatility.

Read this week’s Market Pulse👇
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Solana rotates block production to a new leader every 1.6 seconds.

This epoch, 67% of blocks are being produced in Europe.

Our dashboard helps users identify optimal connection points to minimize latency.

Frankfurt average: 72ms. US East average: 140ms
http://latency.glassnode.com/solana
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Hedges are off, shorts are closed, and ETF flows have flipped positive.

What $BTC needs now is confirmation at the Short-Term Holder Cost Basis at $69k; rejection there puts the lower demand shelf back in play.

Read the full Week On-Chain report👇
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Strategy Watch #6 is live📊

June turned risk-off: directional funds fell (Fundamental -11.6%) while market-neutral held up, and net capital left every major asset.

Our monthly read on fund performance & flows, with Crypto Insights Group
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$BTC options are turning less defensive as put/call ratios and short-dated skew fall, while volatility stays compressed.

Here's what BTC options data reveals about positioning, volatility, and sentiment beneath the surface.👇

The $BTC options OI put/call ratio has fallen sharply to ~0.52, down from ~0.76 in late June. Call open interest is gaining share relative to puts, signalling an unwind in defensive positioning as price stabilises near $67K.
https://glassno.de/4wDxt6J

$BTC ATM implied volatility remains compressed across the curve, with 1W at 34.3% versus 6M at 40.8%. The upward-sloping term structure shows near-term event risk is being discounted, while longer-dated uncertainty retains a modest premium.

25-delta skew has fallen sharply at the front end, with 1W dropping near 4%, while 3M–6M remain around 11–12%. Near-term downside hedging is unwinding, but longer-dated options retain a defensive premium.
https://glassno.de/4fCt2Sf
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Speculative supply is thinning while dormant coins climb. Our 3Q26 Charting Crypto report with Coinbase Institutional outlines how the macro liquidity cycle is steering price, and where early accumulation signals are forming.

Download the report
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$BTC rebounded from $64K to $65.1K but remains range-bound. Softer leverage, ETF outflows and muted on-chain activity signal cautious consolidation despite resilient holders.

Read this week’s Market Pulse👇
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