Bitcoin’s ‘Empty Tank’ Crisis: Stablecoin Drain, ETF Outflows, but Whales Accumulate

Bitcoin's drop below $75,600 short-term holder cost basis coincides with a $14.2 billion stablecoin supply contraction and ETF outflows, but leverage has cleared and whales are accumulating.

Glassnode · 2h ago

Bitcoin Slips Below True Market Mean as ETF Outflows and Stablecoin Stagnation Signal Demand Pause

Bitcoin has fallen below its True Market Mean as spot ETF outflows, stagnant stablecoin supply, and paused corporate treasury purchases sap new demand. The options market is now pricing in downside risk,...

Glassnode · Sep 17, 2026