Well, here we go again. Another Bitcoin crash, another excuse to lose sleep over your digital fortune. But hold onto your hats, folks, because Glassnode, the on-chain analytics firm thatâs smarter than your average bear, claims this latest tumble isnât your run-of-the-mill disaster like the LUNA and FTX fiascos of 2022. đ§
Bitcoinâs Profit Trend: Dodging the Usual Pitfalls đ˘
In a tweet that probably didnât go viral because crypto enthusiasts are too busy crying, Glassnode broke down how this Bitcoin selloff is playing by its own rules. They whipped out the Percent Supply in Profit metric, which sounds fancy but basically tells you how many Bitcoin holders are still grinning ear to ear.đ
This metric works by digging through the transaction history of every Bitcoin in existence. If your coin was last sold for less than its current price, congratulations-youâre in the green. If not, well, maybe consider knitting as a hobby. đ§ś
Now, hereâs the kicker: Glassnode plotted this metric over the last few years, and hereâs what they found:
As you can see, Bitcoinâs Percent Supply in Profit was chilling at 100% earlier this month, right before the price decided to take a nosedive. Even after the crash, it was still above 90%, meaning most investors were still raking in profits. đ¤ Compare that to the LUNA and FTX disasters, where the metric was scraping the bottom at under 65%. Ouch.
Glassnode also threw in something called the Net Realized Profit/Loss, which sounds like a tax form but actually measures whether folks are cashing in their chips or cutting their losses. Spoiler: the LUNA and FTX crashes were total bloodbaths.đ
So, whatâs the verdict? Glassnode says this crash was âa structurally different, leverage-driven event.â Translation: itâs not the same old story, but itâs still a mess.
Bitcoinâs Price: Down But Not Out (Yet) đ
As of now, Bitcoin is hovering around $110,400, down more than 11% over the last week. So, if youâre holding onto your BTC for dear life, maybe take a deep breath and remember: the only thing more volatile than Bitcoin is your Aunt Karenâs opinions at Thanksgiving dinner. đŚ
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2025-10-15 08:50