Bitcoin speculators are underwater on 88% of their BTC bags — Research

Bitcoin (BTC) holdings owned by speculators are almost 90% in the red after the “flash crash” to $26,000, new research says.In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode exposes the true expense of last weeks BTC cost dip to newcomers.Short-term holders “increasingly delicate” to BTC priceWhile only totalling around 10%, the drop on BTC/USD seen toward the end of last week upended market sentiment.As BTC rate forecasts focus on $25,000 and even lower, the dust is settling on a trading environment accustomed to months of sideways behavior.Arguably nowhere is this more visible than amongst short-term holders (STHs)– the more speculative end of the hodler spectrum.Glassnode defines an STH as an entity holding onto BTC for 155 days or less.”Out of the 2.56 M BTC held by STHs, just 300k BTC (11.7%) is still in earnings,” the research study states.Bitcoin STH supply profit and loss chart (screenshot). That stated, the past week has dramatically reshaped profitability among the friend, which formerly operated as a structure for the BTC trading range.The STH aggregate breakeven point, understood as realized rate, currently sits above $28,500.

Bitcoin (BTC) holdings owned by speculators are almost 90% in the red after the “flash crash” to $26,000, new research study says.In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode reveals the true expense of last weeks BTC cost dip to newcomers.Short-term holders “progressively sensitive” to BTC priceWhile just totalling around 10%, the drop on BTC/USD seen toward the end of last week overthrew market sentiment.As BTC cost forecasts focus on $25,000 and even lower, the dust is settling on a trading environment accustomed to months of sideways behavior.Arguably no place is this more noticeable than amongst short-term holders (STHs)– the more speculative end of the hodler spectrum.Glassnode defines an STH as an entity holding onto BTC for 155 days or less.”Out of the 2.56 M BTC held by STHs, just 300k BTC (11.7%) is still in profit,” the research study states.Bitcoin STH supply profit and loss chart (screenshot). That stated, the previous week has actually significantly reshaped profitability amongst the friend, which previously operated as a framework for the BTC trading range.The STH aggregate breakeven point, understood as understood cost, currently sits above $28,500.