Key Points
- •Bitcoin's cost basis supported by ETF inflows and reduced selling.
- •Market stability and easing volatility observed.
- •Long-term holders showing decreased selling pressure.
Glassnode's recent analysis highlights Bitcoin's stability, supported by short-term holders' cost basis and ETF inflows, with easing volatility and cautious bullish sentiments emerging for Q4 2023.
This stability indicates potential market resilience, offering an optimistic outlook as institutional participation grows and selling pressure from long-term holders decreases.
Bitcoin ETF Inflows Bolster Market Support
Glassnode's recent report highlighted a stabilization phase for Bitcoin, emphasizing the role of ETF inflows and low selling pressure from long-term holders. These dynamics are shaping a supportive market structure. The support level at the short-term holders' cost basis is reinforced by ETF activities and cautious accumulation, not seen since May. Insights from Glassnode show that reduced market volatility, alongside re-accumulation in options open interest, points to a reduced likelihood of dramatic price shifts. Long-term holders' retreat from active distribution paves the way for price consolidation, hinting at further stability in the short term.
Market reactions have been mixed with important figures like CryptoQuant's analyst PelinayPA noting bullish setups supported by underlying spot demand. He stated, “Overall, the setup remains bullish, negative funding suggests accumulation opportunities.” Glassnode has emphasized that overcoming seller pressure is vital for new all‑time highs, adding confidence among traders and investors.
BTC Price Spikes and Analyst Predictions
Did you know? “Uptober” saw Bitcoin rally 40% in October 2017, marking a period of strong price activity.
Bitcoin (BTC) currently trades at $121,515.99, with a market cap of $2.42 trillion, according to CoinMarketCap as of October 3, 2025 (15:24 UTC). It exhibits a 12.33% price increase over 90 days, supported by a 1.81% rise in 24 hours, highlighting recent momentum.
Coincu research indicates a positive outlook for Bitcoin in the last quarter of the year, based on historical price trends and current market indicators. View detailed discussions. The ongoing ETF inflows and strong spot demand provide further grounding for this bullish market sentiment.
Glassnode Research Team, Glassnode: “Overcoming the pressure from sellers is a key condition for a fresh attempt by the market to set new all‑time highs. A confident hold above $118,000 will signal that demand is absorbing supply from buyers who entered at the peaks; this will strengthen the case for further gains.”