Bitcoin Short-Term Holders Realize $750 Million Daily Losses
Bitcoin's price has declined by about 15% from its all-time high, leading to concerns as on-chain data indicates a mass exit of certain investors.
Short-Term Holders Exiting
- On-chain analyst Darkfost notes Bitcoin's short-term investors are closing positions and realizing losses.
- The Net Realized Profit/Loss metric shows realized losses of up to $750 million per day, similar to the 2024 summer correction.
- This capitulation phase might precede local bottoms, potentially leading to a price rebound.
- There is also caution about a potential early bearish market phase.
Bitcoin Whales Accumulating
- A CryptoQuant analysis suggests whales may be accumulating, with over 26,500 BTC moving into whale wallets.
- This usually signals institutional or whale accumulation for long-term holding.
- Historically, such accumulation often precedes a bullish trend.
As of now, Bitcoin is valued at approximately $106,870, with little change in the past 24 hours.