Newbie Bitcoin Whales Took $1.77 Billion In Loss During Price Crash: Data
New Bitcoin whales, defined as holders of over 1,000 BTC acquired within the last 155 days, realized approximately $1.77 billion in losses during the recent price crash, according to on-chain data. These short-term holder whales, considered the market's "weak-minded" side, panic-sold as Bitcoin's price dropped to around $59,000. In contrast, long-term holder whales minimized their loss-taking. Analyst Maartunn notes Bitcoin's price has yet to fall below its current Realized Price of $53,630 this cycle, a level historically seen as a buying opportunity. At publication, Bitcoin trades near $63,300, down over 13% for the week.
bitcoinist06/09 00:01
