Zach Anderson
Aug 11, 2026 17:39
Glassnode’s Market Compass Composite hits 25/100 as macro positive aspects energy, pushed by greenback softness. Insights on ETF flows, volatility, and Bitcoin metrics.
Glassnode’s newest Market Compass report highlights a notable uptick in its Composite rating to 25/100, categorized as ‘Defensive’. This marks an enchancment from 22 final month and 21 the week prior, reflecting modest however constant positive aspects in market situations. The important thing driver? A softening U.S. greenback, which has helped stabilize threat property, together with Bitcoin.
Macro situations, the most important weight within the Composite, climbed from 13 to 23 over the previous month, because the greenback continued to wrestle under its 200-day shifting common. This aligns with broader traits reported earlier this 12 months: the greenback gained 1.1% in Q1 2026 after a steep 7.4% depreciation in 2025 (New York Fed, Could 2026). Whereas the greenback stays the dominant world reserve forex, diversification into property like gold and cryptocurrencies is a rising theme.
Spot Market Holds Agency
Bitcoin’s worth hovers close to $63,900, a wholesome premium over the typical value foundation of $52,800. Realized profit-and-loss stays barely optimistic at 1.05, signaling stability, whereas option-implied volatility has ticked as much as 36 after hitting a two-year low. These metrics counsel merchants are navigating a interval of calm valuations with restricted draw back stress.
U.S. spot Bitcoin ETFs proceed to see sturdy inflows, averaging $95 million in web each day creations over the previous week. This passive demand has helped maintain market sentiment, with 43% of latest patrons now in revenue regardless of a slight dip in spot costs. The report notes {that a} additional decline within the greenback’s worth may push the Composite nearer to a ‘Balanced’ studying, whereas a reversal or weakening ETF flows may shift it again towards ‘Threat-Off.’
New Cycle Place Board Debuts
Glassnode launched a brand new function on this version: the Cycle Place Board. This instrument aggregates information from 45 Bitcoin metrics, scoring every from 0 to 100 based mostly on its place inside a four-year historic vary. The whole board condenses right into a composite median rating, providing a concise view of the place Bitcoin stands in its cycle.
Presently, the board sits within the cooler half of its vary, indicating a market that’s “washed out” however steadily constructing a base. Traditionally, related situations have confirmed favorable for accumulation, whereas overheated phases are likely to sign cycle peaks.
What’s Subsequent?
As macro forces just like the greenback’s trajectory proceed to affect crypto markets, merchants ought to look ahead to key indicators. The Composite’s subsequent transfer will possible hinge on whether or not the greenback breaks under its 200-day common or rebounds, and whether or not ETF flows maintain their upward momentum. Moreover, the Cycle Place Board presents a helpful lens for assessing Bitcoin’s long-term positioning.
For real-time updates, the complete Market Compass dashboard is on the market to Glassnode Superior and Skilled members. With passive inflows supporting present market stability, merchants might discover alternatives on this “Defensive” section, significantly if macro tailwinds persist.
Picture supply: Shutterstock
