Altcoin profit share sinks to 12% as short-term traders take losses

Profit-taking among recent altcoin holders had given way to loss-taking by end-October, according to Glassnode, while fewer than half of the major coins in a separate market index were beating Bitcoin over 90 days.In its Nov. 4 report, the on-chain analytics firm said short-term holders were spending at a profit in about 12% of its more than 300 tracked tokens by end-October, compared with about 80% in late September.Separately, BlockchainCenter's Nov. 4 snapshot put its 90-day Altcoin Season Index at 41, meaning fewer than half of its eligible major coins had beaten Bitcoin over that window.Profitability and relative strengthGlassnode uses short-term-holder spent output profit ratio (STH-SOPR) to measure whether those holders sell at a profit or a loss.A reading above 1 indicates profitable spending, while below 1 indicates loss-making spending. By end-October, the firm said, typical tracked tokens' short-term holders were selling at a small loss.Short-term-holder profit share and Bitcoin priceSTH supply in profit is shown as a percentage, and Bitcoin price is shown in thousands of US dollars, so a price value of 100 represents $100,000.Jan. 1, 2019 – Nov. 3, 2026Chart by CryptoSl...