Glassnode

Stalling at the Threshold #BTC has pulled back from the low-$80K region back toward $75K as spot demand, ETF inflows, and volatility expectations continue fading. Positioning has reset, but conviction remains limited. Read the full Week On-Chain 👇 https://glassno.de/4fbUk3i

Directional strategies posted their strongest month of the year, while market-neutral books quietly compounded another month of gains. Across our 400+ manager survey, every major digital asset sub-strategy posted positive average returns in April, collective gains not recorded in recent memory. The new edition of Strategy Watch is now live: glassno.de/4v58esB Find out in this issue: ▪ April marked a clear inflection across crypto hedge fund strategies, with every sub-strategy posting gains for the month ▪ A deep dive into DeFi/Yield strategies, featuring a CIO's perspective on where edge comes from as lending spreads compress and smart contract risk evolves ▪ How 400+ managers are positioning into Q2, with cash levels climbing to multi-year highs despite a more constructive market backdrop ▪ The latest allocator activity across tokenised funds, BTC treasury deployments, and institutional on-chain yield vehicles — and much more. Produced in collaboration with Crypto Insights Group. Subscribe here: glassno.de/4v9nAwl Download the current edition: glassno.de/4v58esB

Rally Without Conviction #BTC has recovered above $80K as ETF inflows, spot demand, and positioning improve. However, weaker capital inflows and heavy overhead supply near $86K keep conviction below prior bull phases. Read the full Week On-Chain 👇 https://glassno.de/4wo7d0c

How much of Bitcoin's supply is already exposed to quantum risk today? Our latest research quantifies Bitcoin’s quantum-exposed supply, identifying where exposure already exists, what share is structural, and what may be reduced through improved wallet and custody practices. Read the full research below 👇 #Bitcoin #BitcoinResearch #BlockchainSecurity #DigitalAssets #QuantumComputing

IBIT options OI briefly surpassed Deribit's in April. As institutional participation continues to expand through ETFs, IBIT options are emerging as increasingly relevant for analyzing positioning, volatility expectations, and risk pricing in #Bitcoin. We've launched 40+ IBIT options metrics on Glassnode, extending our proprietary options analytics framework to the largest U.S. spot Bitcoin ETF. The new suite includes: - Open interest, volume, Max Pain, and term structure metrics - ATM Implied Volatility across tenors - Proprietary skew analytics - IV heatmaps across delta and moneyness ✓ Measure how ETF-linked investors are pricing Bitcoin risk ✓ Compare institutional vs. crypto-native positioning ✓ Monitor hedging pressure ✓ Track how volatility expectations evolve across tenors Read more ▷ glassno.de/4eWucJx Explore the new metrics ▷ glassno.de/499a0R5

Rally Without Conviction #BTC has recovered above $80K as ETF inflows, spot demand, and positioning improve. However, weaker capital inflows and heavy overhead supply near $86K keep conviction below prior bull phases. Read the full Week On-Chain 👇 https://glassno.de/4wo7d0c

Great to be part of the conversation at Consensus 2026 in Miami. Last week, our CCO Daniel Blackmore joined the Frontier Stage panel on Bitcoin’s market outlook alongside Cole Kennelly (Volmex Labs), James Aitchison (Caerus Global Management), and Michael Terpin (Transform Ventures), moderated by James Van Straten (CoinDesk). The discussion covered Bitcoin’s price outlook, adoption, institutional flows, and macroeconomic conditions shaping the market over the next 12 to 24 months. Thank you to the CoinDesk and Consensus teams for hosting another strong event, and to everyone who joined the session and connected with us throughout the week. Feel free to connect with Daniel directly, or reach out at sales@glassnode.com to continue the conversation. #Consensus2026 #Bitcoin #DigitalAssets

A great event in Miami with Xapo Bank and Hilbert Capital. Alongside Consensus 2026, we hosted a private brunch, bringing together professionals form across the digital asset space in a relaxed setting to connect with peers and continue conversations shaping the industry. It was great to see so many familiar and new faces join us. Thank you to everyone who attended. Special thanks to Anna Dinescu, Tommy Doyle and Melana Noory for helping make the event possible. If you’d like to continue the conversation, feel free to connect with Daniel Blackmore or Brett Singer directly or reach out at sales@glassnode.com. #Consensus2026 #DigitalAssets

The latest edition of Charting Crypto, our quarterly publication with Coinbase Institutional, reflects a market increasingly shaped by macro conditions. 👉 glassno.de/4f36zyS Following its established framework, the report delivers a structured view of liquidity conditions, market structure, and asset-level dynamics in the current environment. 📄 Download for full insights: glassno.de/4f36zyS 🔍 Read the key highlights: glassno.de/4toi1J9

Bulls Approach the Ceiling #BTC pushes beyond $80K toward key resistance near $85K, with bulls in control. ETF demand builds and shorts persist, but overhead supply may cap upside without stronger spot follow-through. Read the full Week On-Chain 👇 https://glassno.de/4nltR5q