Altcoin Profitable Sellers Slump to 12% of Tokens From 80% in September

From 4x Volume to 12% Profitability

Profitable selling among recent altcoin buyers has thinned out fast. Data published on November 9 by the on-chain research firm Glassnode shows total altcoin volume surged to nearly 4x Bitcoin's through September, a froth reading that has historically lined up with local Bitcoin tops. The ratio cooled to about 3x by the end of October, the firm's lead analyst AntiFragile noted, and the retreat cost late entrants money. Short-term holders, defined as addresses that bought within the past 155 days, were selling at a profit on roughly 80% of the 300-plus tokens tracked in late September. By the end of October the share had slumped to about 12%, with the typical token's recent buyers exiting at a small loss. A November 9 post on X states that altcoin turnover is back at normal levels. The report ties the unwind to the market itself: Bitcoin slid about 11% from September's $87,100 high into November 3, so the froth peaked with prices near their local top. That top call is a reading, not a certainty, the firm cautions; the ratio last ran this hot in September 2025, shortly before the October 2025 peak.

@glassnode · X post

November 9 post on X.

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XRP Defends $1, XLM Down 37%

The singles are carrying the damage. XRP trades near $1.096, below its major moving averages, after a recovery rally toward $1.34 failed and the token gave back roughly 18%. The nearest support is $1.075, the latest session's low, followed by the $1.03–$1.05 range and the $0.99–$1.00 zone, where a break would put the summer bottom under pressure. The XRP Ledger activated the fixCleanup3_4_0 amendment on November 4, closing a flaw that, under certain conditions, let accounts mint an issuer's tokens after burning them; the native supply was untouched. NEAR, the token of a Layer 1 blockchain protocol, slid to $3.66 on November 9 from about $6 in October, roughly 39% below the local peak, on turnover well under September's breakout levels. Bitwise's spot NEAR ETF, live since September 29, held about 15.69 million NEAR worth $58.21 million as of November 5, with 99% of the fund staked. Hyperliquid changed hands near $75, with $72–$73 as the closest support and $78–$80 as the first resistance shelf. Stellar's XLM lost $0.15 and sits 37% below its September peak of $0.235, back inside May's accumulation range. The Bell Protocol upgrade vote on November 23, which covers muxed contract addresses, post-quantum signature checks and millisecond ledger timing, is the main fundamental date ahead.

Bitcoin Under the True Market Mean

Bitcoin's footing sets the ceiling for any rebound. The largest coin closed on November 3 just below its True Market Mean, the average price active investors paid, a level the on-chain report puts near $77,700; that session's intraday low printed $76,100. The market also digested the October 29 Binance hack, which the exchange's own statement sized at $6.3 billion in affected assets; on-chain readings show a dip of about 3% in the days after. US spot Bitcoin exchange-traded funds logged nearly $1 billion in net outflows across the two weeks through November 2. The report reads the recent tape as crypto-native money, with market makers among the accounts swapping positions and little fresh capital from traditional investors arriving. The Altcoin Season Index stood at a neutral 51 on October 27, between the 25 that marks Bitcoin season and the 75 that marks altcoin season. For levels, the $73,000–$76,000 zone is marked as support, and a sustained loss of $73,000 would point to extended consolidation. A run of daily closes above $85,000, on the other hand, would turn the $84,000–$85,000 resistance into support.

Can $73,000 Hold?

Our live monitoring puts Bitcoin at $74,719, up 0.1% since the newest on-chain update landed at 03:30 UTC. That level sits inside the marked $73,000–$76,000 support and resistance band and roughly $3,000 below the True Market Mean it lost on November 3. The loss-taking among recent altcoin buyers reads as the tail of the September froth rather than fresh supply, and the next dated catalyst is XLM's November 23 upgrade vote. Longer-horizon gauges such as the Bitcoin Rainbow Chart frame where the cycle stands, but the near-term map is narrower. For the range to survive, $73,000 has to keep holding on daily closes; losing it for a sustained stretch invites the extended consolidation the report describes.