Bitcoin’s extreme volatility this week has wiped out a significant amount of unrealized profits across the entire market. Data from Glassnode showed that on Aug. 1, over 85% of Bitcoin’s circulating supply was in profit, reflecting a stable and enduring bullish sentiment as the price settled at around $65,000. However, as the price began declining […]
Bitcoin volatility slashes unrealized profits, STHs hit the hardest Bitcoin volatility slashes unrealized profits, STHs hit the hardest
Sharp price drop led to over 1.2 million BTC in unrealized losses for short-term holders.
3 min read
Updated: Aug. 8, 2024 at 12:06 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.
