Bitcoin Price Crash Ahead? CryptoQuant Flags Historic Demand Collapse

But hold your horses! Glassnode isn’t ringing the alarm bells just yet. They see this lull as a natural shift, like a river finding a new course, toward a more institutionalized market. Sure, on-chain activity is quieter than a church mouse, but those big transfers are still chugging along, hinting at some serious business from the big players. Derivatives volume is now outpacing spot by a whopping 16 times, suggesting the market is getting deeper and more strategic than a game of chess with a grandmaster.