Glassnode reports that despite a drop from its all-time peak, Bitcoin still outperformed most other crypto sectors over the past few months. This indicates to Glassnode that investment and capital continue to favour Bitcoin.
The last three months have been a busy time for the company. “the average return across nearly all crypto sectors has underperformed Bitcoin,” reported Glassnode, a platform for chain analytics.
“This persistent relative weakness highlights a market environment where capital concentration favours BTC.”
They were in response to the post of Bitcoin Vector’s institutional grade reporting platform, which claimed that Bitcoin was the dominant currency during the first six months of 2018. “the picture flipped” Second half.
Bitcoin Vector is explained. “dominance trended lower, making room for ETH rotation, but never fully reclaiming leadership afterward.”
You can also find out more about the following: added Recent attempts at rebuilding after the deleverage event The economy has weakened by the year’s end. “signaling low conviction in BTC leadership and a market still searching for a clear anchor.”
All of these, including RWA, AI and memes, fell even harder
Glassnode’s most recent post seems to contradict this sentiment.
BitcoinBTCThe price of a pound has fallen by 26% during the past 3 months to a current value of about $86,000.
It is slightly less than the 27.5% decline in the total value of the market over the same period. according CoinMarketCap.
EtherETHThe. significant hit The price of the dollar has dropped by 36% since mid-September to below $3,000 at its current level.
AI has fallen by 48%. memecoin According to CoinMarketCap, the market capitalization has fallen by 56% and real-world assets tokenization is down by 46% in the last three months.
It is important to note that the word “you” means “you”. DeFi token CoinGecko reports that the category has declined 38% in the last three months.
Bitcoin still remains the safest crypto haven
Nick Ruck from LVRG Research confirmed this, telling Cointelegraph the data collected over the last three month indicate that Bitcoin is still the preferred currency for capital flows. “reflecting a strong investor preference for BTC’s stability.”
Related: Bitcoin to hit new all-time high within 6 months: Grayscale
“This capital concentration underscores Bitcoin’s dominant position in the market, leaving altcoins struggling to stay relevant amid the current environment,” He added.
“This trend is likely driven by Bitcoin’s established reputation and increasing institutional interest, which bolster its appeal as a safer haven in the volatile crypto landscape.”
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Source: cointelegraph.com
