Glassnode and Bybit report that altcoins have underperformed Bitcoin in the past two years

According to Glassnode and Bybit reports, Bitcoin has risen by 28% in the past two years, while the median mid cap altcoin has fallen by 74%, and Ethereum has remained relatively stable. The open interest contracts of Bitcoin futures account for about 2% of the market value, while speculative small cap currencies such as PEPE account for nearly 24%. Bitcoin has returned above $80000, driving the total cryptocurrency market value to rise by 4.6% in a single day to approximately $2.85 trillion, while Solana has risen by approximately 10% in a single day. Institutional funds are concentrated in the top tier, with a cumulative net inflow of approximately $55.2 billion from spot Bitcoin ETFs, $13.1 billion from Ethereum funds, and approximately $29.7 million from Solana spot ETFs. (Source: Decrypt)