Week On-Chain, Week 31, 2025
Bitcoin has slipped below $116k, entering a low‑liquidity “air gap”, a zone where few coins have changed hands. Short-Term Holder profitability has hit the bull market mid-line, ETF flows have turned negative, and funding rates are cooling off as the market is trying to find support.
Executive Summary:
- After peaking above $123k in mid‑July, BTC has since entered a phase of indecision, with the price trading below the supply cluster with a base at $116k.
- On July 31, price broke below the lower boundary of this cluster, slipping into a relatively low‑liquidity “air gap”, which persists down to $110k. Opportunistic buying has emerged, but the market is yet to reclaim key resistance levels.
- Short‑term holder profitability has dropped, although around 70% of their supply is still held in profit. Without a quick rebound in demand, confidence amongst these new investors may start to weaken, prompting further sell pressure.
Read the full report here.
Bitcoin has slipped below $116k, entering a low‑liquidity “air gap”, a zone where few coins have changed hands. Short-Term Holder profitability has hit the bull market mid-line, ETF flows have turned negative, and funding rates are cooling off as the market is trying to find support.
Executive Summary:
- After peaking above $123k in mid‑July, BTC has since entered a phase of indecision, with the price trading below the supply cluster with a base at $116k.
- On July 31, price broke below the lower boundary of this cluster, slipping into a relatively low‑liquidity “air gap”, which persists down to $110k. Opportunistic buying has emerged, but the market is yet to reclaim key resistance levels.
- Short‑term holder profitability has dropped, although around 70% of their supply is still held in profit. Without a quick rebound in demand, confidence amongst these new investors may start to weaken, prompting further sell pressure.
Read the full report here.
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~120k BTC were acquired during the rebound from $112k to $114k - evidence of opportunistic buying. Yet supply within the $110k–$116k range remains sparse, meaning stronger accumulation is needed to form lasting support: https://glassno.de/4mzDbRB
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Bitcoin has rebounded from last week’s dip below $114k, climbing back toward $121k.
This week’s Market Pulse looks at spot, derivatives, ETFs, and on-chain signals to assess if the recovery can sustain - or if profit-taking will take over: https://glassno.de/4majDDk
This week’s Market Pulse looks at spot, derivatives, ETFs, and on-chain signals to assess if the recovery can sustain - or if profit-taking will take over: https://glassno.de/4majDDk
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