In periods of extreme price volatility leading to massive losses across the market, it’s important to understand where most of these losses come from. While previous CryptoSlate analysis focused on the difference between the behavior of long-term and short-term holders, there’s another layer of depth in on-chain data that can provide a better understanding of market sentiment.
One of these metrics is the volume spent in loss, which calculates the total volume of Bitcoin sold below the acquisition price. By categorizing this volume in loss by age cohorts and wallet sizes, we can better understand the distribution of loss-making movements across different investor classes and timeframes.
Bitcoin’s drop from $60,000 to $54,000 between Aug. 3 and Aug. 5 led to a significant spike in spent volume in loss for Bitcoin. The total spent volume in loss was just above 74,890 BTC on Aug. 3, spiking to 319,290 BTC on Aug. 5. This is the highest volume spent in loss since Nov. 28, 2022.
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We współpracy z: https://cryptoslate.com/bitcoin-volume-in-loss-hit-highest-level-since-ftx-collapse/
