Glassnode RHODL Ratio Hits Historic Third High at 4.5, Market Structure Shifts Toward Long-Term Holders

BTC slides 0.70% in the short term: On-chain fund outflows and derivatives deleveraging align to weigh on the market

Between 09:30 and 09:45 (UTC) on 2026-04-17, the BTC price’s return within 15 minutes was -0.70%. During the day, it fluctuated in the 75511.9 to 76307.6 USDT range, with an amplitude of 1.04%. Short-term market sentiment became more cautious; although capital activity increased, volatility noticeably accelerated. The main driving force behind this move is the large-scale outflow of funds on-chain and active deleveraging in the derivatives market. On-chain data shows that, within this time window, the net outflow from BTC exchanges increased, with a 24-hour net outflow of -2,844.68 BTC. Investors transferred a large amount of BTC to cold wallets, significantly weakening market liquidity and pressuring buy-side demand, which dragged prices lower. In the derivatives space, open interest in perpetual contracts fell in tandem; some leveraged funds actively reduced exposure, indicating the market’s more conservative stance on short-term price action, thereby further weakening support. In addition, multiple large transfers and whale address activity occurred frequently during the anomaly period, amplifying pressure on capital flows and causing sentiment in the derivatives market to turn even colder. The funding rate dropped briefly within the window, indirectly reflecting that some position holders moved into cold wallets for safer risk management. At the same time, the number of active addresses remained persistently high at over 120k, suggesting network participation was not hit and the fundamentals remained stable; however, the combined effect of frequent outflows amplified market volatility in the short term. What needs to be watched is that continuous net outflows of funds on-chain and a decline in holdings pose a threat to the stability of support levels. Large address behavior could lead to further capital escaping. In the short term, focus on changes in exchange BTC balances, on-chain transfer volumes, whale address flow, and the dynamics of derivatives open interest. If capital does not return later, volatility risk may further expand; it is recommended to closely monitor real-time market conditions and key on-chain indicators.

ETH rises 0.65% in 15 minutes: ETF fund inflows and leverage long accumulation resonate to lift spot prices

Between 2026-04-17 09:15 and 2026-04-17 09:30 (UTC), ETH fluctuated within the 2351.53 to 2376.99 USDT range. The 15-minute return recorded +0.65%, with a swing of 1.08%. Within this range, buying pressure significantly strengthened, with trades dominated by medium-sized orders, which increased market attention and amplified short-term volatility. The main drivers behind this anomaly are continued inflows of institutional capital into ETH spot ETFs, especially with cumulative net inflows over the past 4 days exceeding $212 million. On April 17 alone, the ETF added an additional $9.5 million in inflows, and spot buy orders expanded in sync within 15 minutes. Leveraged long positions in the derivatives market are the second-largest catalyst. From April 14 to 17, ETH futures open interest grew 26% week over week, indicating that capital via multiple paths is simultaneously betting on an upside move. The funding rate being neutral suggests the leveraged structure is temporarily healthy. In addition, global macro market risk appetite has rebounded (geopolitical tensions easing, and the Federal Reserve keeping rates unchanged), driving a broad rebound across mainstream risk assets, and the crypto market has attracted liquidity accordingly. At the industry level, major financial institutions are advancing filings for ETFs and trust products. Mining companies have increased their ETH holdings and also maintained active staking activity, further reinforcing medium- to long-term market expectations. Multiple factors overlap and resonate, amplifying volatility. On-chain transfers remain generally stable, and there is no abnormal concentration of fund flows migrating between exchanges. What needs attention is that although the current market is lifted by the resonance of institutional capital and leverage, the continuous growth of futures positions combined with the spot price failing to rise above the 2400 USDT area will bring the risk of forced liquidation. Meanwhile, if ETF subscription inflows slow down or macro liquidity reverses, ETH spot support could weaken. Please focus on tracking ETF net inflows, changes in futures open interest, the macro news backdrop, and nearby support and resistance levels, and stay alert to short-term volatility and potential abrupt adjustments. For more real-time market information, please keep watching.

XRP ETF Assets Reach $1.08B as Fresh Inflows Hit $11.87M

XRP exchange traded funds saw inflows of $11.87 million, increasing total assets to $1.08 billion, reflecting sustained institutional interest and confidence in XRP's role in cross-border payments amidst growing demand for crypto ETFs.

BTC up 0.58% in 15 minutes: exchange net outflows and ETF buy orders converge to lift the price

Between 2026-04-17 08:45 and 2026-04-17 09:00 (UTC), the BTC price surged in the short term. The candlestick return was +0.58%, with a price range of 75265.0 - 75862.3 USDT and a range of 0.79%. Market volatility increased and attention rose, with trading volume significantly higher than usual, reflecting a convergence between capital flow and technical signals. The main driver behind this unusual move is the exchange’s net outflow of BTC in sync with ETF capital inflows. Data shows that within the past 24 hours, exchanges recorded a net outflow of 2,844.68 BTC

Spot Bitcoin and Ethereum ETFs Post Strong Inflows, BlackRock IBIT and ETHA Lead

Spot Bitcoin ETFs saw $26 million in inflows on April 16, led by BlackRock's IBIT with $81 million. Ethereum ETFs also performed well, with BlackRock's ETHA gaining $30.51 million, highlighting ongoing institutional interest in crypto markets.

Citi Study: Bitcoin and Gold Together Outperform Single Asset Allocation in Long-Term Portfolios

A Citi study recommends combining Bitcoin and gold in investment portfolios for improved long-term returns, noting better performance in various market conditions. Wells Fargo predicts gold could rise to $8,000 by 2027, driven by central bank concerns. Meanwhile, Bitcoin funding rates have reached lows, historically marking turning points.