Panicking Bitcoin traders realizing losses
It is no secret that the past week’s BTC price action spooked many a less experienced trader, and data proves it.
According to figures from on-chain analytics firm Glassnode, younger coins being sent to exchanges at a loss increased sharply last week.
Glassnode commonly differentiates the BTC supply by age, with “long-term holders” (LTHs) used to describe wallets hosting coins for 155 days or more. Less than that, and they become “short-term holders” (STHs) — frequently corresponding to the more speculative end of the Bitcoin investor base.
The data shows that since around April 16, STH coins — those which last moved within the 155 days prior — were increasingly moved to exchanges at a lower price than that at which they moved in their previous transaction.
These STH realized losses suggest increasing panic, LTH realized losses also increasing among those moving funds to exchanges.
Courtesy: Reuters with additional input by GVS