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Largest Bitcoin Dump with $3.45 Billion in Net Losses Made by Short-Term Holders: Glassnode

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Tue, 06/29/2021 - 14:21
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Yuri Molchan
Data shared by Glassnode shows that last week short-term holders made the largest Bitcoin liquidation with net losses of close to $3.5 billion
Largest Bitcoin Dump with $3.45 Billion in Net Losses Made by Short-Term Holders: Glassnode
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Glassnode's expert team has shared that last week the largest in history Bitcoin capitulation (valued in the USD) took place from short-term holders.

The net losses realized on-chain totaled a staggering $3,45 billion. Glassnode team points out that this Bitcoin was acquired at a higher price level than the one it was sold at.

As for long-term holders, Glassnode shows that they are in profit and have seen only approximately $383 million in net losses.

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Right now, 2.44 percent of the circulating Bitcoin supply is stored in the wallets of long-term holders at an unrealized loss, data shared by the Glassnode analytics platform says.

The panic-sell was caused by the plunge of the Bitcoin price below the $30,000 level last week. However, Bitcoin quickly recaptured the $34,000 price line.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.