**[Glassnode and Bybit Report: Altcoins Underperform Bitcoin Over Two Years]** Golden Finance reported on September 21, citing Decrypt, that a joint report by Glassnode and Bybit revealed Bitcoin has risen 28% over the past two years, while mid-cap altcoins have dropped 74%, and Ethereum has remained relatively flat—contrary to the so-called "altcoin season" rotation pattern. Leverage distribution is similarly imbalanced: Bitcoin futures open interest accounts for approximately 2% of its market cap, while speculative small-cap coins like PEPE approach 24%, with bubbles concentrated in the riskiest corners. Bitcoin surged back above $80,000 this week, driving the total crypto market cap up 4.6% in a single day to approximately $2.85 trillion. Solana rose about 10% in a single day. However, institutional funds remain focused on top-tier assets, with spot Bitcoin ETFs seeing cumulative net inflows of approximately $55.2 billion—far exceeding Ethereum funds at $13.1 billion and Solana spot ETFs at just around $29.7 million. The report's data is accurate as of the market close on August 23 and only covers trading venues tracked by Glassnode.