Glassnode reports that only about 5% of the altcoin supply is currently in profit, indicating a significant divergence between Bitcoin and other altcoins. This situation is described as unprecedented in the cryptocurrency market. The analysis suggests that while Bitcoin continues to perform well, many altcoins are struggling to maintain profitability. This disparity raises questions about the overall health and direction of the altcoin market compared to Bitcoin’s resilient performance. The report highlights the challenges faced by altcoins, prompting traders and investors to reconsider their strategies in this shifting landscape.
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