Bitcoin bear market sees 4 million coins at a loss

2023-8-14 14:00

Quick Take

In the dynamic world of cryptocurrency, long-term holders (LTHs) of Bitcoin currently possess approximately 4 million coins that are held at a loss.

This figure becomes notably significant when viewed through the prism of cyclical market movements. This latest cycle, distinguished by its severity, witnessed a peak where 6 million Bitcoins were held at a loss by LTHs, a considerable portion of which were from the 2021 class.

Cyclically, as the bear market commences, around 4 million coins appear to be held at a loss. Interestingly, this number remains consistent even as the market recovers from its lows.

An observable pattern thus emerges, where the apex of coins held at a loss coincides with the nadir of the bear market in each cycle.

This cyclical analysis could provide critical insights for market participants, especially those with long-term holding strategies, helping them better navigate cryptocurrency investment’s tumultuous landscape and potentially mitigate losses.

Supply in loss: (Source: Glassnode)

The post Bitcoin bear market sees 4 million coins at a loss appeared first on CryptoSlate.

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