Bitcoin volatility slashes unrealized profits, STHs hit the hardest Andjela Radmilac · 3 hours ago · 3 min read
Sharp price drop led to over 1.2 million BTC in unrealized losses for short-term holders.
3 min read
Updated: Aug. 8, 2024 at 12:06 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin’s extreme volatility this week has wiped out a significant amount of unrealized profits across the entire market. Data from Glassnode showed that on Aug. 1, over 85% of Bitcoin’s circulating supply was in profit, reflecting a stable and enduring bullish sentiment as the price settled at around $65,000. However, as the price began declining […]
