Over the weekend, Bitcoin saw a dramatic drop below $60,000, sparking over $537 million in realized losses predominantly from short-term holders (STHs). This sell-off highlights the volatility and reactive behavior of these market participants, with $441 million of these losses coming from those who had held BTC for a month or less. As the market turmoil unfolded, key on-chain metrics revealed a steep decline in the percentage of STH supply in profit. By June 24, how deep did these losses ...?
STHs faced substantial losses as Bitcoin briefly fell below $60k STHs faced substantial losses as Bitcoin briefly fell below $60k
Bitcoin's rapid price decline saw short-term holders realize losses, marking the highest negative trend since September.
3 min read
Updated: Jun. 26, 2024 at 1:53 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.