Bitcoin and Altcoins Show Unprecedented Divergence: Glassnode Signals Profitability Decline

A new report from Glassnode suggests a concerning trend in the cryptocurrency market, with a significant drop in the profitability of altcoins. Currently, only around 5% of the altcoin supply enjoys profitability, placing it in a deep surrender zone. This divergence is noteworthy as Bitcoin’s own profitability also starts to decline. This unprecedented pattern has been observed in past cycles, raising important questions for market dynamics.