Approximately 2.5 million BTC held at a loss by short-term holders

2024-8-13 04:00

Quick Take

Bitcoin is currently hovering around the $60,000 mark, with approximately 2.5 million BTC held at a loss by short-term holders (STHs) who have held the digital asset for 155 days or less.

This figure has decreased from 2.8 million BTC on Aug. 5, when Bitcoin dropped to $49,000. However, the level of supply at a loss is similar to what was seen following the FTX collapse in November 2022.

BTC: Total Supply in Loss Held By Short-Term Holders: (Source: Glassnode)

Interestingly, just under 500,000 BTC held by STHs are in profit, one of the lowest figures recorded in the past 12 months. Of the 2.5 million BTC held at a loss, some will eventually evolve into long-term holders (LTHs) who plan to hold their BTC for at least 155 days to transition from STH to LTH status.

The drop to $49,000 on Aug. 5 prompted nearly 50,000 BTC to be sent to exchanges at a loss, marking the highest single-day figure since March as Bitcoin came off the all-time high and the fifth-highest this year. This suggests that if Bitcoin continues to decline, the selling pressure could intensify as more holders could be compelled to liquidate their assets.

BTC: Transfer Volume from Short-Term Holders in Loss to Exchanges: (Source: Glassnode)

The post Approximately 2.5 million BTC held at a loss by short-term holders appeared first on CryptoSlate.

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held holders approximately short-term btc million loss

Источник: cryptoslate.com

held holders → Результатов: 126


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