What Glassnode On-Chain Report Reveals About BTC Price in Q1 2026?

As per recent glassnode’s report, BTC price has entered Q1 2026 on a much steadier footing after the leverage-heavy unwind seen in October 2025, with bitcoin trading below 29% from its prior peak above $125,000 and consolidating near key levels. While macro conditions still remain supportive, and even multiple on-chain metrics suggest that the market is transitioning into a more selective and distribution-driven phase rather than a broad risk-on environment.

Also, the report add that the Stablecoin supply growth and transaction volumes remain constructive too, but forward-looking indicators suggest tightening could emerge beyond Q1.

BTC Price Entered 2026 With Selective Strength

Taken together, the glassnode’s BTC report highlights that market appears healthier, yet increasingly selective in risk appetite. While bitcoin continues to attract defensive positioning relative to altcoins, the BTC price remains dependent on liquidity trends, macro stability, and whether distribution pressure gives way to renewed accumulation.

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