Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Investors Lock in Over $7,325,000,000 in Losses Amid Three Days of Deep Capitulation: Glassnode

by Daily Hodl Staff
June 21, 2022
in Bitcoin, Trading

Crypto analytics firm Glassnode finds that over half a million Bitcoin (BTC) were sold at a loss as panic sweeps across the digital asset landscape.

In a new detailed analysis, Glassnode says that over a three-day period, Bitcoin sellers racked up more than $7.32 billion in losses as they scurried to the exits while unloading 555,000 BTC in the $18,000 to $23,000 price range.

“The last three consecutive days have been the largest USD [US dollar] denominated realized loss in Bitcoin history. Over $7.325 billion in BTC losses have been locked in by investors spending coins that were accumulated at higher prices.”

Image
Source: Glassnode

The firm goes on to note that many long-term holders (LTHs) also chose to unload BTC that had sat dormant for over a year at a pace of 20,000 to 36,000 Bitcoin per day last week.

Glassnode also highlights that some investors who bought in at Bitcoin’s November 2021 all-time high (ATH) of $69,000 opted to sell at a staggering 75% loss.

“Investigating the profit and loss by long-term holders sending coins to exchanges, we can see a deep capitulation took place.

A few Bitcoin LTHs even bought the $69,000 top, and sold the $18,000 bottom, locking in -75% losses. Total LTH losses 0.0125% of market cap per day.”

Image
Source: Glassnode

When it comes to the “pain” or losses felt by short-term holders (STH) capitulating, Glassnode reveals that only three previous instances were worse: first at the beginning of the 2018 bear market, followed by March 2020 and from May to July of last year.

Image
Source: Glassnode

The firm adds almost all wallets in possession of Bitcoin also “hold massive unrealized losses,” with owners of between 1 BTC and 100 BTC staring at an unrealized loss equivalent to 30% of Bitcoin’s market cap.

Glassnode concludes its BTC analysis by pointing out that less than half of the Bitcoin supply was in the green, which historically coincides with cycle bottoms.

“We can see that as prices hit the $17,700 lows yesterday, just 49% of the BTC supply was in profit.

Historical bear markets have bottomed and consolidated with between 40% and 50% of supply in profit.

Bitcoin investor conviction is seriously being put to the test.”

Image
Source: Glassnode

At time of writing, Bitcoin is up from its weekend lows and currently trading sideways with a price tag of $20,326.

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sergej Razvodovskij/Nikelser Kate

Submit a Press Release

Industry Announcements

  • Swappi (PPI) Announces First Exchange Listing on BitMart
    July 1, 2022
  • Yield App Joins Forces With Unstoppable Domains To Simplify Web 3.0 Journey
    July 1, 2022
  • ARK Has Introduced a New Blockchain Consensus Technology
    June 30, 2022
  • Cantina Royale Taps Elrond Apes To Boost Its In-Game Cross Chain NFT Collections
    June 28, 2022
  • Saddle Finance Announces End of Lock-Up Period for Its SDL Token
    June 24, 2022
  • NFTs Accessible to All With Launch of Fiat-Focused SIMBA Market
    June 23, 2022
  • Korea Blockchain Week To Hold First Live Event in Seoul After Covid Hiatus
    June 23, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$19,215.43
$19,215.43
0.07%
Ethereum
$1,073.36
$1,073.36
1.51%
Cardano
$0.454047
$0.454047
0.43%
XRP
$0.324834
$0.324834
3.36%
Dogecoin
$0.067758
$0.067758
2.97%

Spotlight

  • Coin Bureau Reveals Current Crypto Portfolio and Top Three Ethereum Killers
    June 28, 2022
  • Coinbase Abruptly Adds Support for 70 New Altcoins to Global Custody Service
    July 1, 2022
  • Top Crypto Analyst Turns Skeptical on Big Bitcoin (BTC) Price Predictions for 2023 – Here’s Why
    June 26, 2022
  • Coin Bureau Names Potential ‘Future Gems,’ Including Avalanche (AVAX), Helium (HNT) and Two More Altcoins
    June 29, 2022
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl