Quick
Take

Bitcoin’s
recent

price
dip
to
around
$54,000
has
triggered
one
of
the
largest
realized
losses
since
the
FTX
collapse,
specifically
the
fifth
biggest
realized
loss
since.
This
significant
sell-off
is
primarily
attributed
to
panic
selling
spurred
by
news
related
to
Mt.
Gox.

On
July
5,
within
a
one-hour
resolution,
Bitcoin’s
aggregated
realized
loss
soared
to
$814
million.
$587
million
of
these
losses
were
incurred
by
short-term
holders
who
had
held
Bitcoin
for
one
to
three
months.
This
demographic’s
reaction
to
market
turbulence
highlights
the
vulnerability
of
short-term
holders
compared
to
their
long-term
counterparts.

 

The
sell-off
highlights
a
pattern
observed
on
July
4,
where
short-term
holders
were
found
to
be
holding

2.5
million
BTC
at
a
loss.
This
indicates
that
these
holders
pose
a
greater
risk
to
a
Bitcoin
correction
than
the
impact
of
Mt.
Gox.

Despite
the
turmoil,
long-term
holders
exhibited
resilience,
contributing
minimally
to
the
selling
pressure.
This
stability
from
seasoned
investors
indicates
confidence
in
Bitcoin’s
long-term
prospects,
contrasting
sharply
with
the
short-term
market
fluctuations
driven
by
newer
entrants
reacting
to
immediate
news
events.

Source:
Glassnode