Altcoin speculation peaked near Bitcoin’s $87,000 high as recent buyers now sell at losses

Glassnode data shows altcoin speculation peaked when Bitcoin hit a high near $87,100, and short-term holders are now selling most tokens at a loss. The shift from peak speculation to loss-taking among recent buyers signals weakening conviction and capitulation in altcoin positions. Traders should watch for further downside pressure as recent buyers exit at losses rather than hold through the drawdown.