Источник Bitcoinist.com
Заголовок Bitcoin Plunges To $60,000 As Short-Term Holders Harvest Massive Profits
Дата 20241004

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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Plunges To $60,000 As Short-Term Holders Harvest Massive Profits

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Plunges To $60,000 As Short-Term Holders Harvest Massive Profits

by Keshav Verma

5 mins ago

in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News

0

On-chain data shows the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin short-term holders have recently moved over 14
times as much profit volume as the loss one.

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Has Plunged As Short-Term Holders Have Been Realizing Gains

According to the latest weekly report from Glassnode , the short-term holders
have started taking profits again recently. The on-chain indicator of
relevance here is the Realized Profit/Loss Ratio , which, as
its name implies, tells us about how the profit and the loss volumes being
moved by Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin investors currently compare.

When the value of this metric is greater than 1, it means the average holder
on the network is moving their coins at a net profit. On the other hand, the
indicator being under this threshold suggests loss-taking is the dominant form
of selling in the market.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Belief Still Alive: HODLer Supply Grows By Another
959,000 BTC

In the context of the current topic, the Realized Profit/Loss Ratio of only a
segment of the BTC userbase is of interest: the short-term holders (STHs) .
The STHs refer to the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin investors who purchased their coins within the
past 155 days.

Below is the chart shared by the analytics firm in the report, which shows the
trend in the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Realized Profit/Loss Ratio for the STHs over the last few
years.

The value of the metric appears to have seen a sharp surge in recent days |
Source: Glassnode's The Week Onchain - Week 40, 2024

As displayed in the graph, the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Realized Profit/Loss for the STHs had
dropped into the negative territory early last month as the price of the
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта had crashed. This means that these investors had been scared
into selling at a loss by the price plunge.

With the asset s value recovering since the bottom, though, the
indicator has also reversed its direction, assuming positive values. The
latest levels have been especially high, with the STHs profit-taking
volume being around 14 times the loss-taking one.

From the graph, it s visible that high profit-taking from these
investors generally aligns with at least local tops in the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin price, so
the coin s latest drop may also be a result of all the profit
realization that this cohort has recently been participating in.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Bull Run Already Over? Quant Sounds Alarm Over Active
Addresses Trend

In contrast, capitulation from the STHs can lead toward bottoms, so when the
STH Realized Profit/Loss switches direction again, it could be the signal that
the coin may be close to reaching a low.

In the same report, Glassnode has also talked about the situation of the
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin long-term holders (LTHs) , who make up the rest of the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
userbase. It would appear that the percentage of supply held in loss by the
cohort has spiked recently.

The trend in the profit and loss supplies held by the BTC LTHs | Source:
Glassnode's The Week Onchain - Week 40, 2024

This recent spike could be a product of the fact that the top buyers now
belong to this cohort, who are naturally holding a loss right now. Despite
47.4% of the LTH supply being underwater, though, the actual scale of
unrealized loss held by the group is still negligible.

BTC Price

At the time of writing, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is floating around $60,400, down more than 5%
over the last seven days.

Looks like the price of the coin has been on the decline recently | Source:
BTCUSDT on TradingView

Featured image from Dall-E, Glassnode.com, chart from TradingView.com

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