As Bitcoin becomes more integrated with traditional finance, its behavior increasingly reflects the structure and pressures of global markets.
In partnership with Avenir Group, we’ve released a new research report that dissects Bitcoin’s liquidity across three dimensions:
– On-chain capital movements
– Exchange-based market microstructure
– Macro linkages and cross-asset correlations
The result is a unified framework for understanding how institutional flows, ETF activity, and global liquidity cycles interact to shape Bitcoin’s performance.
Built for those looking to connect crypto market structure with macroeconomic context.
Download it here: https://glassno.de/40lyF05
In partnership with Avenir Group, we’ve released a new research report that dissects Bitcoin’s liquidity across three dimensions:
– On-chain capital movements
– Exchange-based market microstructure
– Macro linkages and cross-asset correlations
The result is a unified framework for understanding how institutional flows, ETF activity, and global liquidity cycles interact to shape Bitcoin’s performance.
Built for those looking to connect crypto market structure with macroeconomic context.
Download it here: https://glassno.de/40lyF05
Don’t forget to register for our exclusive webinar with Avenir on July 2nd. We’ll walk through the key findings of our joint report and take a closer look at Bitcoin evolving liquidity and macro profile.
Save your spot: http://glassno.de/4l4cjs5
Save your spot: http://glassno.de/4l4cjs5
Week On-Chain, Week 25, 2025
Bitcoin remains in a $100k–$110k range as profit-taking slows and activity metrics cool. While support at $99k holds, fading spot volume and cautious futures sentiment suggest limited upside momentum without a significant influx of demand.
Executive Summary:
- Headline volatility defines recent moves: Bitcoin briefly dropped to $99k amid geopolitical tensions, then rebounded to $106k after headlines of de-escalation circulated.
- Strong structural support at $93k–$100k: The CBD Heatmap shows concentrated accumulation in this zone, formed during Q1 2025.
- Profitability and activity metrics cooling down: Realized profit is tapering off from the third major wave of this cycle. On-chain transfer volume dropped ~32%, and spot volume remains low at $7.7B, reflecting reduced investor engagement.
- Futures markets are still active, but with lower conviction: Despite high trading volume, open interest dropped 7% and liquidations have surged on both sides.
Read the full report here
Bitcoin remains in a $100k–$110k range as profit-taking slows and activity metrics cool. While support at $99k holds, fading spot volume and cautious futures sentiment suggest limited upside momentum without a significant influx of demand.
Executive Summary:
- Headline volatility defines recent moves: Bitcoin briefly dropped to $99k amid geopolitical tensions, then rebounded to $106k after headlines of de-escalation circulated.
- Strong structural support at $93k–$100k: The CBD Heatmap shows concentrated accumulation in this zone, formed during Q1 2025.
- Profitability and activity metrics cooling down: Realized profit is tapering off from the third major wave of this cycle. On-chain transfer volume dropped ~32%, and spot volume remains low at $7.7B, reflecting reduced investor engagement.
- Futures markets are still active, but with lower conviction: Despite high trading volume, open interest dropped 7% and liquidations have surged on both sides.
Read the full report here