Bitcoin’s aggregate futures exposure fell as recently active capital gained share through Oct. 4. Younger coin cohorts tend to spend more readily during volatility, so sustained buying remains the test of how readily the market can absorb active supply.
Glassnode’s Oct. 5 Market Pulse reported futures open interest declining from $38 billion to $36.6 billion. Hot Capital Share rose from 18.9% to 19.5%, while the short-term-to-long-term holder supply ratio increased from 13.7% to 14.2%.
