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Glassnode Glassnode @glassnode · 44.1K subscribers
Post #931 12.2K
The Week On-Chain 30, 2024
Bitcoin prices have rebounded strongly, rallying over $68k and catalyzing an uptick in perpetual futures activity. The appreciation in price has also provided much-needed relief for the Short-Term Holder cohort, with 75% of their coins now held in profit.

Executive Summary
- Binance, Bybit and OKX remain the industry leaders for perpetual swap markets, accounting for around 84% of the total open interest.
- We introduce a novel model to track the sensitivity of leverage and Open Interest in Futures markets relative to changes in the spot Bitcoin price.
- Price has climbed back above the Short-Term Holder cost basis, which has provided much-needed relief for new investors, with over 75% of their supply moving back into profit.

Read more in The Week On-Chain newsletter.
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