Bitcoin faces resistance at 88,000 USD as ETF inflows decline and macroeconomic uncertainty persists, according to a new report from Glassnode.
Glassnode reports that 31.2% of Bitcoin supply is held on addresses with exposed public keys, raising potential concerns regarding future quantum computing threats.
Glassnode reports that 6.26 million BTC, or 31.2% of the total supply, is now held behind visible public keys due to address reuse and structural script designs.
Over 31% of the circulating Bitcoin supply is now held in addresses with exposed public keys, with exchanges accounting for the majority of the recent growth.
Glassnode reports that Bitcoin's recent valuation gains were driven primarily by existing holders rather than new capital inflows, which totaled $4.9 billion over 30 days.
Bitcoin may target $96,700 as market dynamics shift from leverage-driven growth to on-chain capital accumulation, according to Glassnode.
Glassnode identifies a major cluster of leveraged Bitcoin short positions near $90,000, warning that forced liquidations could trigger significant market volatility.
Bitcoin has surged 35% from its August low while open interest in derivatives dropped by nearly 20%, signaling a shift toward spot-driven market growth.
Bitcoin failed to break the $85,000 resistance level as long-term holder supply clusters and rising US bond yields pressured market sentiment.
Large Bitcoin holders have accumulated over 113,000 BTC since mid-July, even as rising Treasury yields create market headwinds.
Glassnode's Altcoin Cycle Signal has shifted to indicate an altseason, as the broader crypto market rallies and total capitalization nears $3 trillion.
Analytics platform Glassnode has triggered an altcoin season signal as the combined market cap of altcoins reached $1.19 trillion.
Glassnode data indicates that altcoin leverage remains low, suggesting the current market rally is not driven by excessive borrowed capital.
The share of Bitcoin futures backed by BTC has dropped from 70% to 12% since 2021, reducing systemic liquidation risks.
A joint report by Bybit and Glassnode indicates that Bitcoin options are capturing a larger share of the crypto derivatives market throughout 2026.
Bitcoin sell-side risk has reached historic lows as profit-taking activity cools following the recent price rebound above $80,000.
Bitcoin options market implied volatility has dropped to around 37%, down from a June 2026 peak of approximately 65%.
Bitcoin trades below $80,000 despite three consecutive weeks of positive inflows into US spot ETFs, totaling approximately $987 million.
Privacy coins are the only crypto sector to record gains since October 2025, surging 213% while other market segments declined.
Privacy coins have surged 213% since October 2025, outperforming all other crypto sectors according to new Glassnode data.
