Bitcoin futures aggregate exposure fell from $38.0 billion to $36.6 billion in Glassnode’s weekly snapshot through Oct. 4. Hot Capital Share reached 19.5%, while the holder-supply ratio stood at 14.2%. Long-side funding payments climbed from $926,400 to $1.5 million, signaling stronger demand for bullish exposure. Spot cumulative volume delta shifted from negative $102.8 million to positive $33.2 million, reflecting a turn toward buyers. The growing presence of recent cohorts keeps price sensitivity elevated, but sustained spot buying provides a counterweight to fragility concerns.
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