📊 On‑Chain & Futures Analysis
— Weekly Market Brief
📌 Deleveraging After the Local Top
Futures leverage reset significantly over the week. $BTC opened at $77,749 and surged past $80K to print a three-month high of $81,347. The subsequent hawkish Fed commentary triggered a $481M liquidation event, pulling prices down to $76,909 before a weekend recovery back to $78.4K.
$ETH tracked closely, consolidating around $2,448 after reaching an intraday peak of $2,564.
📌 Derivatives Reset to Neutral
Futures open interest dropped 11% in coin terms during the pull-back. Funding rates remained positive but normalized rapidly, indicating that the rally was driven primarily by spot market buying and short covering rather than over-leveraged long positions.
📌 Whale Accumulation vs Retail Selling
Large wallets holding over 100 BTC added 39K BTC to their balances this week, contrasting with heavy retail distribution. On-chain bull metrics reached their highest levels since late 2025, though short-term holder profit realization hit $1.2B over a three-day window.
Crucial support sits at $76.9K down to the $73.7K defense zone, while resistance remains firm at the $81K to $83K technical wall.
— Weekly Market Brief
📌 Deleveraging After the Local Top
Futures leverage reset significantly over the week. $BTC opened at $77,749 and surged past $80K to print a three-month high of $81,347. The subsequent hawkish Fed commentary triggered a $481M liquidation event, pulling prices down to $76,909 before a weekend recovery back to $78.4K.
$ETH tracked closely, consolidating around $2,448 after reaching an intraday peak of $2,564.
📌 Derivatives Reset to Neutral
Futures open interest dropped 11% in coin terms during the pull-back. Funding rates remained positive but normalized rapidly, indicating that the rally was driven primarily by spot market buying and short covering rather than over-leveraged long positions.
📌 Whale Accumulation vs Retail Selling
Large wallets holding over 100 BTC added 39K BTC to their balances this week, contrasting with heavy retail distribution. On-chain bull metrics reached their highest levels since late 2025, though short-term holder profit realization hit $1.2B over a three-day window.
Crucial support sits at $76.9K down to the $73.7K defense zone, while resistance remains firm at the $81K to $83K technical wall.
