Glassnode data could imply Ethereum price dynamics are more influenced by derivatives and other off-chain markets compared to Bitcoin.

CBD Data Shows Divergence In Spot Activity For Bitcoin & Ethereum

In a new post on X, on-chain analytics firm Glassnode has talked about how the Cost Basis Distribution (CBD) has diverged between Bitcoin and Ethereum recently.

The CBD refers to an indicator that tells us about the amount of a given asset that addresses or investors on the network last purchased at each of the price levels visited by the cryptocurrency in its history.

This metric is useful because investors put special emphasis on their break-even level and tend to make some kind of move when a retest of it occurs. The more amount of the asset that the holders purchased at a particul

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