Altcoin Holders Have Been Realizing Losses Since 2024, Glassnode Says

BitcoinistMay 202 min readSingle source

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5-point summary · 1 min

On-chain analytics firm Glassnode has revealed how the typical altcoin investor has generally been realizing losses since late 2024.
Median SOPR In The Altcoin Sector Has Been Stuck Below 1 In a new post on X, Glassnode has talked about the latest trend in the median SOPR for the altcoin market.
In terms of weekly returns, Bitcoin is down more than 4%, while Ethereum is in a loss of 7%.
During 2025, there were a couple of very brief surges above the 1 level for the metric, but the last time a proper break occurred was all the way back in late 2024.
ETH Price At the time of writing, Ethereum is trading around $2,100, down 0.2% over the last 24 hours.

$2,100,4%7%0.2%

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On-chain analytics firm Glassnode has revealed how the typical altcoin investor has generally been realizing losses since late 2024. Median SOPR In The Altcoin Sector Has Been Stuck Below 1 In a new post on X, Glassnode has talked about the latest trend in the median SOPR for the altcoin market. The “ SOPR,” which stands for Spent Output Profit Ratio, here refers to a popular on-chain indicator that tells us whether traders on a given network are transferring their coins at a net profit or loss. When the value of the metric is greater than 1, it means profit-taking is the dominant mode of transactions. On the other hand, the indicator being under this threshold suggests investors are, on average, realizing a net loss with their selling. Naturally, the SOPR being exactly equal to 1 suggests the profits being realized on the network are exactly canceling out the losses. In other words, the holders as a whole can be considered to be just breaking even on their moves. Now, here is the chart shared by Glassnode that shows the trend in the median SOPR for the top 500 assets in the cryptocurrency sector by market cap over the last couple of years: As displayed in the above graph, the median SOPR of the top 500 digital assets rose to a value of 1 during the recent recovery surge in the sector. This suggests that altcoin investors as a whole rushed to use this opportunity to exit at their break-even level. Since this selling, however, markets have reversed course. In terms of weekly returns, Bitcoin is down more than 4%, while Ethereum is in a loss of 7%. Major altcoins like XRP and Solana have also taken a notable hit inside this window. From the chart, it’s visible that loss realization in the sector has returned alongside the pullback. With another failure to find a break into the profit zone, the median SOPR for the top 500 coins is now extending its already-long stay inside the underwater region. During 2025, there were a couple of very brief surges above the 1 level for the metric, but the last time a proper break occurred was all the way back in late 2024. Thus, it would appear that the average altcoin trader has been in loss-realization mode for 1.5 years. This loss-taking behavior among investors, interestingly, couldn’t change when Bitcoin and other assets observed a bull run last year. Considering this, it only remains to be seen what will need to happen to change the situation of the altcoin traders, if their situation will change at all. ETH Price At the time of writing, Ethereum is trading around $2,100, down 0.2% over the last 24 hours.

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Bitcoin stabilizes near $63,000, but reclaiming $64,000 is the real test Bitcoin is stabilizing near $63,100 after buyers defended the lower part of its recent range. That is constructive, but it is not yet a confirmed recovery. BTC must first overcome resistance near $63,175-$63,270, while reclaiming and holding $64,000-$64,095 remains the more important test. Key takeaways for Bitcoin traders and investors Current position: BTC is holding above the previous month’s lower value boundary near $62,380. Immediate resistance: Buyers need to clear $63,130-$63,175, followed by $63,247-$63,270. Main recovery test: A sustained reclaim of $64,000-$64,095 would carry much more weight than a temporary bounce near $63,000. Major support: The broader $62,380-$62,535 region remains the most important defended zone. Bullish confirmation: Repeated closes, consolidation or a successful retest above $64,095 would show that Bitcoin is beginning to establish higher accepted value. Data note: The latest daily, four-hour and one-hour candles were incomplete when this analysis was prepared. Exchange-specific Bitcoin prices may also differ slightly. I'm also closely monitoring the digital asset space after , putting immediate pressure on lower order-flow shelves as bulls fight to defend structural trendlines. Regulatory headwinds also resurfaced as the , injecting fresh institutional hesitation into active trading books. Meanwhile, broader risk sentiment showed divergence across asset classes as , underscoring rotational breadth away from mega-cap tech into small-cap momentum. Macro headwinds and geopolitical posturing remain front and center following headline chatter that , all while monetary policy uncertainty lingers after amidst baseline model variances. Why Bitcoin’s stabilization is constructive but incomplete Bitcoin recently fell to approximately $62,535, where the decline attracted meaningful buying. Price subsequently recovered toward $63,100, strengthening the case that buyers are willing to defend the lower part of the previous month’s trading range. What stands out to me, however, is how little upward progress followed that buying. Several periods showed positive buying pressure, but BTC remained concentrated around $63,050 and repeatedly struggled to extend beyond $63,150-$63,175. In simple terms, buyers have shown that they can slow the decline, but they have not yet shown that they can move Bitcoin into a clearly higher trading range. This is the difference between stabilization and recovery: Stabilization means sellers are no longer pushing price lower with the same ease. Recovery means buyers are lifting price, holding above resistance and shifting the market’s most active trading area higher. Bitcoin has shown the first condition. The second still needs confirmation. 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