TGViewer
Glassnode Glassnode @glassnode · 44.1K subscribers
Post #783 13.6K
The Week On-chain 03 , 2024
2024 has opened with a roller-coaster ride for Bitcoin, as ten new spot ETFs begin trading in US markets. The event was historic and chaotic, with BTC prices setting both new multi-year highs, and YTD lows. Bitcoin has welcomed traditional finance into it's world.

Executive Summary
- The successful SEC approval of ten new spot BTC ETF products set the scene for a characteristically chaotic week for Bitcoin investors.
- BTC prices set new multi-year highs, followed by YTD lows, as the market sold off -18% over the weekend. This was driven by both derivatives leverage and spot profit taking.
- Several indicators reached levels where past cycles found meaningful resistance, and was highlighted by ~75K BTC being spent by Long-Term Holders taking profits.

Read more in The Week On-Chain newsletter and watch our latest video analysis report.
Open in Telegram All posts from @glassnode
More from @glassnode
  1. Oct 7, 2026The US bid that led $BTC has flipped. From July to the September breakout, US trading hour…
  2. Oct 7, 2026Bitcoin got through the $85K wall, but the rally is running light. Our new Week On-chain m…
  3. Oct 5, 2026Large entities are back in profit. Small wallets stayed in profit the whole time: at the J…
  4. Oct 5, 2026$BTC trades near $86k after a Sunday rally lifted the weekly close about 2% higher. Deriva…
  5. Oct 5, 2026Whales have stopped sending $BTC to exchanges. Their summer run of net deposits lasted ove…
  6. Oct 4, 2026$BTC's largest overhead liquidation cluster sits near $90k. If price touches this level, l…
Threads Profile ViewerView any public Threads profile without an account.Open ThreadLook →Writing with AI? Make it sound human.Metric37 rewrites AI drafts so they read naturally. Free AI detector, 1,500 words free.Try Metric37 →