{"id":30287,"date":"2022-06-20T02:22:15","date_gmt":"2022-06-20T06:22:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=30287"},"modified":"2022-06-20T02:22:27","modified_gmt":"2022-06-20T06:22:27","slug":"bitcoin-long-term-holders-are-giving-up-data-shows","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-long-term-holders-are-giving-up-data-shows\/","title":{"rendered":"Bitcoin Long-Term Holders Are Giving Up \u2013 Data Shows"},"content":{"rendered":"\n
The sharp fall in the price of Bitcoin (BTC<\/a>) has reportedly initiated a major liquidation of the asset in the last three days.<\/h5>\n\n\n\n
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Bitcoin, the world's largest cryptocurrency, had yet another carnage this weekend, with the BTC<\/a> price falling below $18,000 for the first time. There have been significant liquidations, with long-term Bitcoin holders throwing down the towel and abandoning up.<\/p>\n\n\n\n

According to on-chain data provider Glassnode, Bitcoin liquidations of $2.42 billion have occurred every day for the last three days. According to the data provider:<\/p>\n\n\n\n

“The last three consecutive days have been the largest USD denominated Realized Loss in Bitcoin\u00a0history. Over $7.325B in\u00a0$BTC\u00a0losses have been locked in by investors spending coins that were accumulated at higher prices\u201d.<\/p><\/blockquote><\/figure>\n\n\n\n

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Furthermore, over 555K Bitcoins have changed hands in the last three days in the $18,000-$23,000 price range. Long-term holders who had accumulated coins in H1 2021 or before began panicking, flooding the exchanges with 20K to 36K Bitcoins every single day.<\/p>\n\n\n\n

According to Glassnode data, long-term holders sold more than 178K Bitcoins after the price fell below $23,000. This accounts for 1.31 percent of their overall holdings. Furthermore, it raises the total LTH balance to September 2021 levels.<\/p>\n\n\n\n

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Glassnode also discusses indications of serious capitulation. It\u00a0writes\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>:<\/p>\n\n\n\n

“Investigating the profit and loss by Long-Term Holders sending coins to exchanges, we can see a deep capitulation took place. A few\u00a0#Bitcoin\u00a0LTHs even bought the $69k top, and sold the $18k bottom, locking in -75% losses. Total LTH losses 0.0125% of Market Cap per day\u201d.<\/p><\/blockquote><\/figure>\n\n\n\n

Furthermore, Glassnode stated that Bitcoin miners have been under pressure, with their balances stagnant since the 2019-2021 accumulation period. BTC miners spent $9,000 on their treasuries last week and still have more than 50,000 Bitcoins. Bitcoin hash rate has also fallen 10% from its all-time high.<\/p>\n\n\n\n

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Short-term investors have suffered significant losses in addition to long-term investors. “If we examine the damage, we can find that practically all wallet cohorts, from Shrimp to Whales, now contain significant unrealized losses, worse than March 2020,” Glassnode says.<\/p>\n\n\n\n

According to the data provider, once the BTC price fell below $18,000, only 49 percent of all Bitcoins were profitable.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sharp fall in the price of Bitcoin (BTC) has reportedly initiated a major liquidation of the asset in the last three days. Bitcoin, the world’s largest cryptocurrency, had yet another carnage this weekend, with the BTC price falling below $18,000 for the first time. There have been significant liquidations, with long-term Bitcoin holders throwing […]<\/p>\n","protected":false},"author":33,"featured_media":30289,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[],"class_list":["post-30287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/Screenshot-2022-04-05-at-11.01.58-AM.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=30287"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/30289"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=30287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=30287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=30287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}