Bitcoin Price Falls Below $100,000, Impacting Short-Term Holders
The recent downturn in Bitcoin has led many investors to sell at a loss. However, long-term holders remain largely unaffected, according to blockchain analytics firm Glassnode.
Long-Term Holders Resilient
- Bitcoin experienced volatility, dropping below $100,000, with a low of $92,800 on February 3.
- Glassnode reported that only 0.01% of long-term holders are in loss, indicating their resilience amid market turbulence.
- Unrealized profits for these holders have declined since November but show no renewed accumulation yet.
- Long-term holders are not aggressively buying, likely waiting for better market signals.
Short-Term Holders Facing Losses
- Short-term holders suffered significant losses as Bitcoin's price fell below $100,000.
- At $97,000, losses and profits among short-term holders were evenly split at ~11%, the highest loss exposure since early January.
Market Sentiment
- Bitcoin briefly dipped to $91,200 as overall cryptocurrency market declined, influenced by external factors including global stock market performance.
- Negative investor sentiment is prevalent, raising concerns about a potential bearish trend for Bitcoin.
- As of now, Bitcoin is trading around $96,000.
Investors remain cautious as market dynamics evolve.