Glassnode: Bitcoin's rally above $85K runs on old money as volumes hit multi-year lows

• —Daily BTC volume (spot plus US ETFs) near $6.8B, below 90% of days since January 2024
• —In 30 days, $4.9B of new money covered under 40% of the $12.8B Realized Cap gain
• —On October 4, 86% of coins sent to exchanges came from short-term holders in profit, a one-year high
• —Options turned bullish: 0.56 puts per call, with call spending exceeding puts by $17M a day