According to @glassnode, BTC is range-bound between 110k and 116k as profit-taking and fading ETF inflows cap momentum, with derivatives exerting outsized influence and futures/options providing balance (source: @glassnode). They identify 114k as the key level to reclaim for upside while a drop toward 108k raises risk of deeper stress, framing near-term trade management around these levels per the latest Week On-Chain (source: @glassnode).