ChainCatcher report, according to Glassnode analysis, Bitcoin has rebounded approximately 26% from its mid-August low, while U.S. spot Bitcoin ETFs recorded a net inflow of $2.23 billion over the same period—the strongest seven-day inflow this year—with no single-day outflows. Bitcoin holdings on exchanges have decreased, and accumulation has occurred across all wallet size groups. Upcoming supply is concentrated in the $81,000 to $86,000 range, where it overlaps with hot spot costs, re-listed sell orders, market maker gamma flip, and short liquidation zones. Glassnode notes that this rally was ignited by record-long liquidations on August 19, with 85% of all liquidations in the window being shorts—the largest single-day short liquidation since Glassnode’s records began in 2019. Futures open interest, measured in BTC terms, declined by 11%, and funding rates have returned to near-neutral levels, indicating that the rally was primarily driven by short covering rather than new long leverage. Options pricing suggests the rally could persist through late September, with key resistance near $83,300 and support levels at the $70,000 cost zone and $62,000–$65,000.
Glassnode: Short liquidations drive an 11% decline in BTC futures open interest
ChaincatcherShare
Summary
BTC price rose 26% from its mid-August low, with U.S. spot BTC ETFs recording a $2.23 billion net inflow over seven days—the highest of the year. Exchange-held Bitcoin declined, with accumulation observed across all wallet sizes. Supply is clustered between $81,000 and $86,000, overlapping with hot cost zones and short liquidation bands. Glassnode reported a record short squeeze on August 19, with 85% of liquidations coming from short positions. BTC price gains drove open interest down 11% by volume, with funding rates near neutral, indicating short stops rather than new longs. Options data suggests a potential trend extension through late September, with resistance at $83,300 and support at $70,000 and $62,000–$65,000.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.