Recent on-chain data from Glassnode reveals a striking divergence between Bitcoin (BTC) and the top 500 altcoins. Altcoin prices have plunged into deep capitulation territory, with only around 5% of supply currently showing profit. This drastic sell-off has wiped out much of the speculative fervor associated with altcoins. In contrast, Bitcoin’s profits are still in an early stage of decline, creating a significant gap between the two asset classes. Glassnode’s heatmap shows this divergence by depicting a sea of red representing widespread losses across the altcoin sector. 5% of altcoin supply remains profitable while Bitcoin’s profit metrics have just begun to decline sharply. This is a historically unprecedented divergence. Analysts are predicting Bitcoin could experience its final capitulation wave, potentially dropping towards $78K-$84K. Meanwhile, altcoins may stabilize due to the already depleted selling pressure.