Bitcoin Investors Lose Record $7.3 Billion in Three Days

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Decrypt
5d ago2022-06-20

The Bitcoin selloff from Thursday to Saturday marked the largest realized loss ever for the top cryptocurrency by market cap, with investors recording $7.3 billion of locked-in losses.

About 555,000 Bitcoin were traded in the $18,000 to $23,000 range during the three-day span, with many sellers having originally purchased BTC at much higher prices, according to research firm Glassnode.

Short-term holders reached a Spent Output Profit Ratio equal to that of the 2018 bear market, meaning their profits are down overall, while some long-term holders experienced “deep capitulation” after buying at Bitcoin’s all-time high of nearly $69,000 and selling for closer to $18,000, per Glassnode.