Glassnode: Bitcoin Breaks Below Range Bottom and Real Market Mean Since Late August, New Demand Missing, Support Thin

PANews, September 16 - Glassnode reports that Bitcoin fell about 4.6% this week to approximately $76,000, breaking below the range bottom since late August and the $76,700 real market mean. Despite the Senate's CLARITY Act vote failure and a sharp altcoin sell-off, the decline remains moderate. However, new demand is clearly absent: on-chain capital inflows have stalled after 27 consecutive days, ETFs have turned to net outflows, stablecoin supply is flat, and corporate treasuries have stopped buying. Within hours of the vote, the options market shifted from betting on upside to buying downside protection, with the max pain point at $72,000 and a $85,000 call wall capping upside. Order book data shows nearly two-thirds of orders are concentrated 1% to 10% below the current price, with thin support after breaking below $68,000; the next target is $71,300, followed by $62,000 to $65,000.