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15 July 2024
Specialists have recorded a decrease in profits for the majority of speculators.
15
July
2024

The drop in Bitcoin to its lowest level since the end of 2022 and its fall below the 200-day moving average have led to unrealized losses for a significant portion of short-term investors. This conclusion was reached by analysts from Glassnode.

According to their calculations, a 26% price drop from the all-time high has rendered 2.9 million BTC out of a total of 3.2 million BTC “unprofitable.”

Nevertheless, despite the increased financial pressure on speculators, the amount of realized losses remains moderate relative to capitalization.

Analysts noted that the relatively small decline indicates a strengthening of market structure and a decrease in volatility as cryptocurrencies become a full-fledged asset class.

Taking into account the halving, the current cycle is one of the worst, despite Bitcoin reaching an all-time high for the first time in history just before the reward for miners was halved.