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Bitcoin (BTC) Witnessed Highest Net Realized Profit/Loss in History: What it Means

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Sun, 06/27/2021 - 14:59
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Vladislav Sopov
Last Friday was the 'bloodiest' for crypto markets, here's why
Bitcoin (BTC) Witnessed Highest Net Realized Profit/Loss in History: What it Means
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Chief Investment Officer at Moskovski Capital, Bitcoin (BTC) analyst Lex Moskovski, shares the details of the most painful sell-off for 'young' Bitcoiners (BTC) so far.

Bloody record 

As per Lex Moskovki's latest tweets, amidst Bitcoin (BTC) price pullback, owners of the flagship crypto are massively selling their coins at loss.

Mr. Moskovski displayed the data by leading on-chain statistics vendor Glassnode. According to it, Bitcoiners (BTC) with weak hands are going through the most painful sell-off ever.

Net Realized Profit/Loss by Glassnode ratio that shows aggregated profits or losses of all Bitcoin (BTC) addresses for a particular day of trading activity touched historic lows.

Last Friday will be remembered by Bitcoiners (BTC) for an unparalleled net loss of $3,450,000,000 which is far more dramatic than that in Black Thursday in Crypto.

Is the bottom in?

Meanwhile, some followers of Mr. Moskovski including prominent analysts Willy Woo and Charles Edwards opined that the scale of tragedy should be largely attributed to the increase of Bitcoin (BTC) market capitalization.

Mainly, selling pressure on Bitcoin (BTC) comes from the cohort of short-term holders. In this statement, Mr. Moskovski echoes the estimations of Bitcoin (BTC) analyst William Clemente.

Related
Bitcoin Aggressively Accumulated by Strong Hands: Analyst

In the latest The Pomp Letter newsletter, Mr. Clemente stated that long-term holders are aggressively buying Bitcoins (BTC) amidst the newbies-driven panic-selling.

Crypto whales might be "setting the floor" for the upsurge of Bitcoin (BTC) rally, Mr. Clemente added.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)