Bitcoin Holds Steady, ETH Outperforms SOL, TRUMP, Shiba Inu, Plumment, On-Chain Data Report Shows

On-chain data shows Bitcoin BTC/USD has maintained its strength comparatively to overall crypto market volatility as a major market move may be imminent.

What Happened: In a post on X on Friday, analytics provider Glassnode showed meme coins experiencing sharp declines, with TRUMP TRUMP/USD dropping by 33.1% and Shiba Inu SHIBA/USD falling by 27.9%.

Broader drawdowns include Bonk BONK/USD, down 6.92%, and Pepe PEPE/USD, down 6.8%.

Solana SOL/USD declined 2.65%, Ethereum ETH/USD slipped 0.84%, outperforming both SOL and meme coins.

Glassnode also showed Bitcoin's 1-week realized volatility having dropped to 23.42%, nearing historic lows. Past instances of similar compressions (Oct 2024: 22.88%, Nov 2023: 21.35%) preceded major market moves.

Similarly, BTC's 1-week options Implied Volatility (IV) is at 37.39%, among multi-year lows—suggesting the market is preparing for a volatility expansion.

Longer-term IV remains elevated (3m: 53.1%, 6m: 56.25%), indicating expectations of significant price swings in the coming months.

Also Read: Michael Saylor: ‘Bitcoin Is Economic Armor’, Calls On US To Accumulate BTC

Why It Matters: In a post on X on Wednesday, influencer Davie Satoshi said traders should accumulate Bitcoin for building a solid foundation, stacking XRP for stability, adding PEPE to portfolio, and allocating a small portion for the high-risk meme coins with a potential to spike.

Coinbase CEO Brian Armstrong, in a post on X on Thursday, weighed in on meme coins, acknowledging their cultural impact and potential role in on-chain adoption, creative monetization and financial inclusion.

Recently, Glassnode data showed meme coin futures open interest down significantly, raising curiosity on the sector’s upcoming trajectory.

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