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BTC Bitcoin market dynamics reflect evolving's market landscape
In September, the Bitcoin market showed dramatic changes as the risk of selling dropped significantly and approached historical lows. Although Bitcoin retained its gains of about 25% in August, this phenomenon suggests a complex interplay between current market forces.
What does the Glassnode indicator reveal?
The agency's weekly announcement points out that Bitcoin's "selling risk" indicator has been significantly reset. By analyzing the relationship between total profits and losses on the network and Bitcoin's market value, this indicator can reveal the dollar value of capital flows over a specific period of time. Data shows that low levels usually signal a market bottom or accumulation stage.
In August, Bitcoin climbed above US$80,000, setting a recent high. At the same time, the selling risk reaches 16. However, this week, the indicator plunged to 7, near its all-time low, suggesting that despite rising prices, the momentum to sell is waning.
Glassnode pointed out that the Bitcoin rally in August did not exert significant supply pressure, and that the number of days with low levels on the chain decreased over the past year.
Are long-term investors stable?
Yes. Data shows that long-term investors (wallets that hold unspent trading output for at least six months) have been slower to take profits recently, with their share of realized profits falling sharply to 47% from 88% in August.
At the same time, profit-taking activity that emerged on September 3, 2026, lags behind a similar surge in August, suggesting that a potential correction may not trigger the fear of panic selling. Glassnode emphasized that long-term investors 'share of realized profits has dropped significantly compared to its peak in August, and profit-selling behavior was more restrained in September.
Tracking ETF investment models?
Of course. After Bitcoin broke through the US$80,000 mark, various investor groups achieved overall profits. However, if Bitcoin prices fall, concerns remain about potential selling pressures. The expenditure-output profit ratio (SOPR) maintains the longest net profit cycle in 2026, indicating that the market has strong upward momentum.
The main points of these observations include:
- The fit between selling risk indicators and the accumulation stage suggests a market bottom.
- Long-term investors 'continued position holding strategies demonstrate lasting confidence.
- SOPR levels above 1 emphasize the continued bullish trend.
As the cryptocurrency space evolves, traditional markets are undergoing transformative transformation, and Web3 innovation is attracting investors 'attention. Platforms that allow stocks and precious metals to be held directly in crypto wallets illustrate the far-reaching impact of blockchain convergence.
For U.S. spot Bitcoin ETF investors, Glassnode estimates that Bitcoin must return to US$86,000 to recover, the threshold has been exceeded for the first time in 229 trading days. They currently have a total paper loss of $3.9 billion, underscoring the difficult recovery that many face.
