Glassnode: Altcoin Profit Spikes Reverse in October

Glassnode flagged that altcoin profit-taking peaked in late September with the largest spike since December 2024 before reversing sharply; recent buyers now sell most tokens at a loss while BTC stayed range-bound.

Bitcoin trades at $79117.79 beneath both the EMA50 at $80931.67 and EMA200 at $81664.67, confirming the bearish structure. The MACD death cross at -127.12 keeps downside momentum intact while RSI at 40.2 sits neutral inside the Bollinger Bands. Price hugs the lower band support at $79099.94 with upper resistance at $81960.61, suggesting any bounce toward the 50-EMA will likely meet selling before the next directional move.