Glassnode

Bitcoin

2026-09-29 16:26:11

Bitcoin Pulls Back Below $85K as Long-Term Holder Supply Adds Resistance

Bitcoin gave up its latest advance after the Tuesday Wall Street open, failing to sustain a move toward $85,000 as rising US Treasury yields kept pressure on risk assets and precious metals. BTC/USD briefly climbed to the mid-$84,000 range before slipping back below its daily open near $83,600 and later dropping under $83,000. In the bond market, the 30-year US yield rose above 5.60% to a new 24-year high, while the 10-year yield reached 5.26%, close to overtaking its June 2007 peak and levels last seen in April 2002. Gold, which had fallen 3.6% on Monday to $4,115 per ounce, recovered to $4,166 at the time of writing. Order-book data from CoinGlass showed ask liquidity continuing to build around $85,000, reinforcing overhead resistance. Glassnode said long-term holder supply was most concentrated in the $84,000-$85,000 range, raising the odds of profit-taking if Bitcoin attempts a breakout. Mosaic Asset Company, meanwhile, argued that US equities could still rebound from what it called extremely oversold conditions, citing weak market breadth, a rise in bearish sentiment and stronger-than-expected August job gains even as markets price in a 0.25% Federal Reserve rate hike in October.

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Bitcoin

2026-09-29 12:12:36

Glassnode says Bitcoin open interest has fallen to its lowest level since March

Glassnode said on Sept. 29 that Bitcoin is moving higher with lower leverage in the market. According to the firm, BTC has climbed 35% from its August low, while coin-denominated open interest has dropped by nearly 20% over the same period. That combination has pushed open interest down to its lowest level since March. Glassnode said the setup could make the current rally less vulnerable to disruptions caused by leveraged liquidations. The update points to a rise in price that is not being matched by an increase in speculative positioning, at least based on coin-denominated futures open interest. The comment was cited by BlockBeats in a market analysis brief.

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Bitcoin

2026-09-29 12:05:54

Glassnode says BTC open interest has fallen to its lowest level since March

Glassnode said on X that Bitcoin is rising with less leverage in the system. Since its August low, BTC has climbed 35%, while open interest measured in BTC has dropped by nearly 20% over the same period. The firm said that metric is now at its lowest level since March. In Glassnode’s view, the current advance may be less exposed to forced liquidations tied to leveraged positioning. The update points to a market structure in which price has moved higher even as derivatives exposure, at least on a BTC-denominated basis, has eased rather than expanded.

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Glassnode

2026-09-28 15:23:29

Glassnode says spot traders are rotating into altcoins as volume nears 4x BTC

Glassnode said in a post on X that spot traders are shifting toward altcoins, with total altcoin spot trading volume now nearing four times that of Bitcoin. The firm said the reading marks the highest level since September 2025. Glassnode also noted that rising demand for higher-risk assets has, in past market cycles, often coincided with local tops in BTC. The comment points to a clear change in spot market activity, with trading flow moving away from Bitcoin and into alternative tokens. No additional figures or token-level breakdowns were disclosed in the post cited by Odaily.

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Bitcoin

2026-09-28 15:10:58

Ledger CTO says hidden public keys do not remove Bitcoin’s quantum risk

Ledger Chief Technology Officer Charles Guillemet said he disagrees with the view that only about 30% of Bitcoin is exposed to quantum-computing risk while the remaining roughly 70% is safe because it is protected by public-key hashes. Citing Glassnode data, he noted that about 30.2% of BTC has already exposed spending public keys on-chain, but argued that this figure captures only what is visible in a static on-chain state. Public keys that have not appeared on-chain may still exist in xpubs, devices, PSBT files, logs, or backups. He also said that once a Bitcoin transaction is initiated, the public key becomes visible before the transaction is confirmed. Guillemet further cited research from Google Quantum AI saying that, under a high-speed quantum computer model that does not currently exist, an attack against secp256k1 could be completed in about nine minutes. On that basis, he said hiding public keys alone cannot solve the quantum threat and that Bitcoin will ultimately need to migrate to post-quantum cryptography.

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Glassnode

2026-09-28 15:23:48

Glassnode says altcoin spot volume has climbed to nearly 4 times Bitcoin

Glassnode said in a post on X that spot traders are rotating into altcoins, with total altcoin spot trading volume now nearing four times that of Bitcoin. The firm said the reading marks the highest level since September 2025. Glassnode also noted that rising demand for higher-risk assets has, in past market cycles, often coincided with a local top in BTC. The update points to a clear shift in spot market activity away from Bitcoin and toward altcoins, based on the firm’s latest observation shared on social media. No additional figures or timeframe beyond the comparison and the September 2025 reference were disclosed in the post cited by ChainCatcher.

190

Ledger

2026-09-28 14:49:31

Ledger CTO Questions Claim That Only 30% of Bitcoin Faces Quantum Risk

Ledger Chief Technology Officer Charles Guillemet said the idea that only about 30% of Bitcoin is exposed to quantum-computing risk, while the remaining roughly 70% stays safe because public keys are protected by hashes, is flawed. He was responding to earlier Glassnode data showing that around 30.2% of BTC has already exposed spending public keys on-chain. Guillemet argued that this figure captures only the blockchain’s static state and does not account for public keys that may still exist in xpubs, devices, PSBT files, logs, or backups. He also noted that once a Bitcoin transaction is initiated, the public key becomes visible before confirmation. Citing research from Google Quantum AI, Guillemet said that under the assumption of a fast quantum computer that does not yet exist today, an attack against secp256k1 could be completed in about nine minutes. On that basis, he said hiding public keys alone is not enough to solve Bitcoin’s quantum-risk problem and that the network will ultimately need to migrate to post-quantum cryptography.

220

Bitcoin

2026-09-27 07:44:31

Spot Bitcoin ETFs Pull In Nearly $3 Billion Over Seven Sessions, but BTC Stalls Near $84,300

U.S. spot Bitcoin exchange-traded funds have logged seven straight trading days of net inflows, taking in about $3 billion since Sept. 17, according to SoSoValue. The strongest day in that stretch came on Sept. 21, when net inflows reached roughly $999 million, while the week of Sept. 21-25 brought in about $2.4 billion, the largest weekly haul since October 2025. Even so, Bitcoin has not broken higher in step with those flows and was last hovering near $84,300, below the roughly $87,400 level touched earlier in the week. The report says the issue is not a lack of ETF buying. Instead, those inflows are largely being used to absorb existing sell-side supply in the $83,000 to $86,000 range, an area Glassnode identifies as a major on-chain cost basis and supply zone. It also notes that ETF inflows do not always represent outright bullish positioning, because some institutional investors may be running basis trades by buying spot Bitcoin ETFs while shorting BTC futures. On top of that, elevated U.S. Treasury yields remain a headwind for risk assets, with the 10-year yield recently moving above 5.1%.

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