Quick Take
In the dynamic world of cryptocurrency, long-term holders (LTHs) of Bitcoin currently possess approximately 4 million coins that are held at a loss.
This figure becomes notably significant when viewed through the prism of cyclical market movements. This latest cycle, distinguished by its severity, witnessed a peak where 6 million Bitcoins were held at a loss by LTHs, a considerable portion of which were from the 2021 class.
Cyclically, as the bear market commences, around 4 million coins appear to be held at a loss. Interestingly, this number remains consistent even as the market recovers from its lows.
An observable pattern thus emerges, where the apex of coins held at a loss coincides with the nadir of the bear market in each cycle.
This cyclical analysis could provide critical insights for market participants, especially those with long-term holding strategies, helping them better navigate cryptocurrency investment’s tumultuous landscape and potentially mitigate losses.
The post Bitcoin bear market sees 4 million coins at a loss appeared first on CryptoSlate.
Source: https://cryptoslate.com/insights/bitcoin-bear-market-sees-4-million-coins-at-a-loss/