Glassnode: The recent pullback is mainly due to local deleveraging rather than a large-scale withdrawal of funds

OdailyOct 15, 2025
#Crypto Stocks BTC-1.07%COIN-1.54%
Glassnode posted on X that Bitcoin's rise to $126,000 reversed under the dual impact of macroeconomic pressures and $19.00B in futures contract liquidations. As ETF inflows slow and market volatility soars, this historic deleveraging is pushing the market into a reset phase. It is worth noting that spot trading volume surged during this liquidation wave, reaching its peak for the year. Monitoring through the Cumulative Volume Delta Bias (CVDB) reveals that Binance is under significant active selling pressure, while Coinbase shows net buying, indicating that institutional investors are taking over the sell-off on American trading platforms. The overall CVDB only shows a mild net selling tendency, far weaker than the spot panic selling at the end of February 2025. This suggests that the recent pullback is mainly due to local deleveraging, rather than a large-scale capital exodus. [Odaily]
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Glassnode: The recent pullback is mainly due to local deleveraging rather than a large-scale withdrawal of funds

OdailyOct 15, 2025
#Crypto Stocks BTC-1.07%COIN-1.54%
Glassnode posted on X that Bitcoin's rise to $126,000 reversed under the dual impact of macroeconomic pressures and $19.00B in futures contract liquidations. As ETF inflows slow and market volatility soars, this historic deleveraging is pushing the market into a reset phase. It is worth noting that spot trading volume surged during this liquidation wave, reaching its peak for the year. Monitoring through the Cumulative Volume Delta Bias (CVDB) reveals that Binance is under significant active selling pressure, while Coinbase shows net buying, indicating that institutional investors are taking over the sell-off on American trading platforms. The overall CVDB only shows a mild net selling tendency, far weaker than the spot panic selling at the end of February 2025. This suggests that the recent pullback is mainly due to local deleveraging, rather than a large-scale capital exodus. [Odaily]
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