Glassnode
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Institutional Data and Market Intelligence for Digital Assets.

https://studio.glassnode.com/
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Strategy Watch is our monthly read on fund performance, capital flows, and allocator positioning across digital assets, produced with Crypto Insights Group

Edition #9 is live now πŸ‘ˆ
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$BTC is retesting the True Market Mean.

It could pull back all the way to the short-term holder cost basis at $75.8k and still be a good setup for continuation.

Retests like this are normal in an uptrend. The last one, in mid-September, came days before the high of the move.
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Yesterday’s Binance hack is the largest in crypto history.

Over $6 billion was affected, more than the next 9 largest hacks combined.

The previous largest, Bybit in February 2025, was $1.5 billion.

3 out of the 10 largest have now happened since 2025, all at exchanges.
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ETF investors are pulling out of $ETH.

US spot ETH ETFs have now seen 23 straight sessions of outflows, the longest streak since the funds launched.

This signals weak demand from traditional investors who bought heavily in August and September.
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Missed our livestream with @Bybit_Learn?

Will the US Midterms rock markets? Catch the replay:

X: https://x.com/i/broadcasts/2ybVXKJKMVJyZq

YouTube: https://glassno.de/4eeUS77
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$BTC sellers have been taking losses below $80k.

Last week brought the longest run of daily net realized losses since mid-August.

The August and September loss clusters both formed at the local lows. A hold above $75k would fit that pattern.
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$BTC trades near $78k on Monday after a Thursday slide below $80k. Perpetual sellers drove the drop, yet longs keep paying up in funding and options traders are buying protection, while spot buyers held steady.

Read our latest BTC Market Pulse πŸ‘‡
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Bitcoin is retesting its August breakout levels.

Holding above these levels keeps the August uptrend in place.

Our latest Week on Chain report contains ten more analyses, including liquidation maps, options into year-end, midterms data and much more.
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