XRP, Dogecoin and Solana outperformed Bitcoin and Ethereum over the past 24 hours amid a subdued weekend of trading. Analysts say Bitcoin has been range-bound roughly between $86,500 and $90,000. Bitcoin was hovering around $88,000.
Glassnode noted volatility in several on-chain price models, with the spot price around $87,800. Short-term holder breakeven is about $99,900, the average cost for active investors around $87,700, the realized price near $56,200, and the broader on-chain value near $81,100.
The precious metals rally drew macro attention. On Friday, silver prices rose about 155% year-to-date, briefly placing it among the top assets by market capitalization. Fred Krueger, author of The Big Bitcoin Book, said he is not a chartist but noted Bitcoin had hit an important line on the chart. In a follow-up post, Krueger argued that silver lacks Bitcoin’s network effects and could fall faster as the narrative fades, while supply could respond within a month, prompting some investors to question why they didn’t simply buy Bitcoin.
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