Glassnode: Short-term holders are selling most altcoins at a loss

On November 10, according to BeInCrypto, Glassnode data showed that by the end of October, among the more than 300 tokens tracked, only about 12% of tokens had short-term holders realizing profits upon sale, compared to roughly 80% at the end of September. Short-term holders refer to investors who purchased tokens less than 155 days ago.

Citing Glassnode Chief Analyst AntiFragile, the report stated that the ratio of altcoin spot trading volume to Bitcoin approached nearly 4x near its September peak, declining to approximately 3x by late October. Glassnode noted that if Bitcoin closes above $85,000 for consecutive days, it could transform the $84,000 to $85,000 resistance zone into support; if it continues to break below $73,000, it may enter a longer consolidation period.