Bitcoin holders lose more than $7.3 billion in cash in 3 days
3 min readBitcoin holders lose more than $7.3 billion in cash in 3 days
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Bitcoin holders lose more than $7.3 billion in cash in 3 days, hitting a record.
The latest weekly report released by the on-chain data analysis company Glassnode on the 20th pointed out that the Bitcoin market suffered a large-scale deleveraging event last week, whether it is the DeFi market on the chain, or the exchanges, lending institutions, hedge funds and many off-chain. Stuck in a position of insolvency, illiquidity or liquidation.
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Glassnode pointed out that the past three days have set the largest realized loss in Bitcoin history.
Investors have realized losses of more than $2.4 billion per day for three consecutive trading days, with a total loss of $7.325 billion for three days.
Long-term holders are also starting to panic
Glassnode further noted that in just 3 days, more than 555,000 bitcoins changed hands in the price range between $18,000 and $23,000.
It is worth noting that long-term holders who have held Bitcoin for more than 1 year, that is, long-term holders of Bitcoin in th
e first half of 2021 or earlier, they also began to panic, with 20,000 to 36,000 per day Bitcoin sold.
Glassnode pointed out that long-term holders sold more than 178,000 bitcoins after the price of bitcoin fell below $23,000, accounting for 1.31% of the total holdings of long-term holders, which also made long-term holders hold of Bitcoin’s total balance fell to September 2021 levels.
Glassnode found that as the market tumbled, many long-term Bitcoin holders were forced to surrender, and some even bought Bitcoin at the peak of $69,000 and sold at the bottom of $18,000. 75% of the loss, the current daily loss of long-term holders is 0.0125% of the Bitcoin market value.
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