Most Crypto Sectors Lagged Bitcoin Over Past 3 Months: Glassnode

Bitcoin fell 26% in three months but outperformed most crypto sectors as Ether dropped 36%, AI tokens fell 48%, and memecoins dipped 56%.

Despite a decline from all-time highs, Bitcoin has still performed better than most other cryptocurrency sectors in recent months, indicating that capital and investment continue to favor Bitcoin, according to Glassnode.

Over the past three months, “the average return across nearly all crypto sectors has underperformed Bitcoin,” reported onchain analytics platform Glassnode on Tuesday.

The comments came in response to a post from institutional-grade reporting platform Bitcoin Vector stating that the first half of the year was Bitcoin-dominated, but “the picture flipped” in the second half.

Bitcoin Vector explained that “dominance trended lower, making room for ETH rotation, but never fully reclaiming leadership afterward.”

They added that recent attempts to rebuild after the deleverage event have weakened again by year-end, “signaling low conviction in BTC leadership and a market still searching for a clear anchor.”

Glassnode’s latest post appears to disagree with this sentiment.

Bitcoin (BTC) has retreated by around 26% over the past three months, reaching current levels of around $86,000.

This is slightly better than the overall decline in total market capitalization of 27.5% over the same period, according to CoinMarketCap.

Ether (ETH) has taken a significant hit since mid-September, falling approximately 36% to its current levels below $3,000.

Source: CoinTelegraph