Glassnode: Altcoin Supply in Profit Remains Low

Glassnode data shows most altcoin holders remain underwater, with the median coin holding less than a quarter of its supply in profit. Global market tops historically form only after the majority of supply across the market sits deep in profit, a threshold still distant according to the on-chain metrics. Bitcoin and broader crypto market analysis points to continued caution for altcoin supply in profit recovery amid current conditions.