Realized loss for Bitcoin investors hit a historic $7.3 billion over just three days last week, according to data from analytics firm Glassnode.
Per the firm’s data, investors reeling from sustained sell-off pressure exited positions they had taken at much higher prices, leading to the huge realized loss. In terms of definition, Glassnode looks at realized loss based on when a coin moves and what price it moves – basically it tells the difference in last price versus current price.
As Bitcoin price crashed, investors quickly sold off roughly 555,000 BTC in the $23,000-$18,000 price range.
On average, LTH sold 1.31% of their total holdings, with aggregate long term investor balances shrinking to levels last registered in September last year.
Bitcoin was trading around $20,190 on Monday evening, with intraday lows of $19,700 and intraday highs of $20,900 making the $21,000-$23,000 level a potentially new resistance zone.
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