According to @glassnode, Bitcoin (BTC) is confined to a fragile $81K–$89K range as market liquidity thins and realized losses surge (source: @glassnode on X, Week On-Chain). @glassnode reports that futures are deleveraging and options positioning remains defensive, indicating a cautious derivatives posture (source: @glassnode on X, Week On-Chain). @glassnode adds that demand remains weak, reinforcing range-bound trading conditions around the highlighted levels (source: @glassnode on X, Week On-Chain).