Bitcoin (CRYPTO: BTC) continues to trade sideways, but Glassnode’s weekly pulse shows leverage, institutional inflows, and profit-taking all building underneath the surface at the same time.
What the On-Chain Data Shows
Glassnode reported that 69.3% of circulating Bitcoin supply is now in profit, above its statistical high band, giving holders a growing incentive to sell.
Adding to that, the Net Unrealized Profit and Loss reading climbed to 10.1% and the Realized Profit and Loss ratio jumped 39% to 1.0, meaning more participants are actively locking in gains rather than holding through the flat price action.
The more pressing signal is Hot Capital Share, which measures how much price-sensitive short-term capital is active in the network.
