Glassnode's latest report shows Bitcoin slipping into a liquidity vacuum with declining short-term holder profits and significant Bitcoin ETF outflows, raising investor concerns.
Glassnode’s report indicates that Bitcoin dropped from a historical peak of $123K to below $116K, entering a liquidity vacuum down to $110K. Short-term holder profits fell from 100% to 70%, and Bitcoin ETFs saw a net outflow of 1500 BTC on August 5—the largest since April 2025—with perpetual contract funding rates declining, signaling reduced leveraged positions.