chartingcrypto

Bitcoin's Q3 recovery is real, but the data says "constructive," not euphoric. 📊

Coinbase Institutional x Glassnode just released Charting Crypto Q4 2026. Key takeaways:

- $BTC rose 43% in Q3 to ~$83.6K, even as the Fed hiked to 3.75–4.00% and the 10Y yield hit 5.29%, the highest since 2002
- US spot BTC ETFs took in a net $7B, reversing H1 outflows
- NUPL climbed from 0.11 to 0.38: optimism, not euphoria
- Long-term holders mostly held, with dormant supply up ~340K BTC
- $ETH beat BTC by ~20%, and DeFi TVL grew from $37B to $53B

⚠️ The catch: ~1.7M BTC last moved between $89.6K and $93.7K, a dense supply wall above price. Glassnode's indicator map also leans toward near-term consolidation.

Levels to watch: resistance $87K–$87.8K, support $74.5K–$75.2K, 200-day MA near $71K.

Takeaway: the structure is improving, but rates and overhead supply will decide the next leg. Not financial advice.

#Bitcoin #Glassnode #ChartingCrypto #OnChain