During extreme price volatility, massive losses ripple through the Bitcoin market. While we’ve explored the contrast between long-term and short-term holders, a deeper dive into on-chain data reveals another crucial aspect: the volume spent in loss. Bitcoin's drop from $60,000 to $54,000 in early August saw an unprecedented surge in this metric. Who were the biggest sellers during this plunge, and what triggered such a dramatic response? The answer lies in...
Bitcoin volume in loss hit highest level since FTX collapse Bitcoin volume in loss hit highest level since FTX collapse
Volume spent in loss reveals short-term holders and large wallets as primary sellers during Bitcoin’s sharp decline.
3 min read
Updated: Aug. 9, 2024 at 12:12 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.
