Glassnode: Decline in Profitable Sales by Short-Term Bitcoin Holders

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Glassnode reported on November 4, 2026, that the percentage of tracked tokens where short-term holders sold at a profit decreased to approximately 12% by the end of October, down from around 80% at the end of September. This metric tracks over 300 tokens. Short-term holders typically realized small losses on sales of recently acquired tokens by the end of October. The 90-day Altcoin Season Index from BlockchainCenter was 41 on November 4, 2026, placing it in the neutral range. The significant drop in profitable sales by short-term holders suggests increased selling pressure at a loss, which can sometimes precede a market bottom as weaker hands exit. The neutral Altcoin Season Index indicates that altcoins are not broadly outperforming Bitcoin, suggesting a lack of widespread altcoin rotation. It is important to note that the realization of losses alone does not indicate whether selling pressure will soon subside or if further weakness will follow.