Historic Levels of Realized Losses
Sometimes, the bitcoin market is a wild ride.The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.Over the last 55 days, there has been a historic amount of losses on the Bitcoin network. Over $16 billion worth of losses have been realized since May 13. The steady bleed of the class of 2021 bitcoin investors continues, as shown by the largest capitulation event in the history of bitcoin in terms of....
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Data shows the net amount of losses being realized in the Bitcoin market is going down, but nonetheless remains at a high value. Bitcoin Net Realized Profit/Loss Still Has A Pretty Negative Value As per the latest weekly report from Glassnode, the net loss realization has reduced a bit recently, but the market is not near a neutral level of selling yet. The “net realized profit/loss” is an indicator that measures the net magnitude of profits or losses being realized by all investors in the Bitcoin market. The metric works by looking at the on-chain history of each coin being....
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The classic bottom zone reappears on the back of serious sell pressure stoked by mayhem on stablecoin markets. Bitcoin (BTC) bounced past $28,000 during May 12 after repeating a chart structure not seen since March 2020.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC seller losses spiralData from Cointelegraph Markets Pro and TradingView continued to track BTC/USD as it briefly fell to just under $24,000 on Bitstamp.A strong reversal then sent the pair several thousand dollars higher in minutes, with consolidation then taking hold to see it trade at around $27,000.The bounce....