Bitcoin Hodlers Face Record Losses Amid Market Downturn
Bitcoin Hodlers Suffer Record Losses
Bitcoin (BTC) is currently experiencing a period of significant pain for both large and small hodlers. According to data from on-chain analytics firm Glassnode, over one-third of the Bitcoin supply is being held at a loss by long-term holders (LTHs), marking a new all-time high. This indicates that many investors who have held BTC for extended periods are now facing substantial unrealized losses.
Market Indicators Highlight Bitcoin's Struggles
The Bitcoin relative LTH/STH supply in profit/loss chart reveals the severity of the situation, with a growing proportion of long-term holders underwater. Additionally, the percentage of Bitcoin addresses in profit has dropped significantly, further emphasizing the downturn. The BTC/USD 1-week candle chart, which includes 200-day and 200-week moving averages, also reflects bearish market sentiment.
These metrics collectively paint a challenging picture for Bitcoin investors, as the cryptocurrency continues to navigate uncertain market conditions.
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