{"id":51774,"date":"2025-10-08T16:46:58","date_gmt":"2025-10-08T16:46:58","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=51774"},"modified":"2025-10-08T16:46:58","modified_gmt":"2025-10-08T16:46:58","slug":"bitcoins-on-chain-profitability-has-surged-with-97-of-supply-now-in-profit-glassnode","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=51774","title":{"rendered":"Bitcoin\u2019s On-Chain Profitability Has Surged With 97% of Supply Now in Profit: Glassnode"},"content":{"rendered":"
\n

Bitcoin\u2019s latest breakout is being fueled by institutions and steady on-chain demand rather than speculation, according to new data from Glassnode.<\/p>\n

In the Oct. 8 edition of its “The Week On-chain” newsletter<\/a>, the analytics firm said bitcoin\u2019s surge to a new all-time high near $126,000 earlier this week was powered by strong ETF inflows and consistent accumulation from smaller market participants. <\/p>\n

The move pushed bitcoin into fresh price discovery before consolidating near $122,500 on Wednesday.<\/p>\n

ETF demand returns<\/h3>\n

Glassnode said more than $2.2 billion flowed into U.S. spot bitcoin ETFs within a single week, marking one of the strongest waves of institutional buying since April. <\/p>\n

Those inflows reversed the mild redemptions seen in September and helped absorb much of the available supply on exchanges.<\/p>\n

The firm noted that the fourth quarter has historically been bitcoin\u2019s most favorable season, as professional investors often rebalance portfolios toward higher-risk assets such as crypto and small-cap stocks. <\/p>\n

Sustained ETF demand, it added, could continue to anchor prices as year-end approaches.<\/p>\n

Smaller holders drive accumulation<\/h3>\n

Glassnode\u2019s on-chain data show that mid-tier holders, or wallets containing between 10 and 1,000 BTC, have been the main buyers behind the latest leg higher. <\/p>\n

These accounts have apparently steadily increased their balances while larger whales have taken moderate profits, creating what the firm described as a \u201cmore organic accumulation phase.\u201d<\/p>\n

Nearly 97% of circulating supply is now in profit, a level that typically marks late-stage bull cycles but does not yet show signs of exhaustion. <\/p>\n

The report highlighted the $117,000\u2013$120,000 zone as a key area of on-chain support, with roughly 190,000 BTC last transacted there \u2014 a price range where new buyers may step in if markets pull back.<\/p>\n

Leverage adds a note of caution<\/h3>\n

While Glassnode described market conditions as \u201crobust but maturing,\u201d it cautioned that futures open interest and funding rates have both risen sharply. It noted that annualized funding now exceeds 8%, suggesting a buildup of leveraged long positions that could heighten short-term fragility.<\/p>\n

Even so, Glassnode argued that realized profits remain controlled compared with prior market tops, signaling that investors are rotating holdings rather than rushing to exit.<\/p>\n

A structurally strong market<\/h3>\n

Overall, Glassnode said bitcoin\u2019s structure remains sound, underpinned by institutional demand, deep liquidity, and broad-based accumulation. <\/p>\n

The firm concluded that as long as ETF inflows persist, bitcoin\u2019s rally could extend further into the fourth quarter, reinforcing its position as the most structurally supported uptrend in years.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s latest breakout is being fueled by institutions and steady on-chain demand rather than speculation, according to new data from Glassnode. In the Oct. 8 edition of its “The Week On-chain” newsletter, the analytics firm said bitcoin\u2019s surge to a new all-time high near $126,000 earlier this week was powered by strong ETF inflows and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-51774","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51774"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51774\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}