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Cryptocurrency News Articles
Long-Term Bitcoin Investors Hold Strong as Profits Outweigh Losses, Short-Term Holders Face Losses
Sep 05, 2024 at 10:53 am
The Bitcoin market remains stable, even as short-term traders face losses. Long-term investors and Bitcoin holders continue to hold profitable positions
Yerevan (CoinChapter) – Bitcoin’s market stability is being tested as short-term traders experience losses. Despite recent dips, long-term investors and Bitcoin holders are still in profitable positions. However, new traders are contributing to the market pressure with unrealized losses.
Long-Term Bitcoin Investors Strong as Profits Outpace LossesBitcoin trades at $57,450, down from its all-time high of $73,835 by 22%. According to Glassnode, long-term Bitcoin investors continue to be in a有利可图的位置。 Specifically, the unrealized profit/loss ratio indicates that profits are six times higher than losses. Moreover, this strong financial standing shows that only around 20% of trading days have had a better ratio.
According to analysts, BTC investors are faring well compared to previous bull cycles. The recent downturn has not significantly impacted long-term holders, who have incurred smaller unrealized losses than in past cycles.
Short-Term Bitcoin Holders in the Red as MVRV Drops Below 1.0Short-term Bitcoin holders (STHs), on the other hand, are facing a tough market. These investors, defined as those who have held Bitcoin for less than 155 days, are currently experiencing unrealized losses. Notably, the short-term holder MVRV ratio has dropped below 1.0, revealing that the majority of newer investors are underwater. This trend follows the aftermath of the FTX collapse in August 2023.
According to Glassnode, all age bands within the STH group are holding losses, with the current STH cost basis at around $62,400. Also, market observers note that unless Bitcoin recovers this level, we could see further pressure on the price. In the meantime, there are growing concerns about the pressure on short-term investors.
Bitcoin trades above the critical $51K level at $58K amid market shiftsAnalysts are keeping a close eye on the $51,000 price point, which is critical for Bitcoin’s market stability. If Bitcoin falls below this level, the market could face additional downward pressure, especially from short-term investors. Glassnode highlights the importance of maintaining this price for the continued upward movement.
At the time of writing, Bitcoin trades at $58,049.06 with a market cap of over $1.14 trillion and a 24-hour trading volume of $36 billion. The circulating supply is 19,749,656 BTC, out of a maximum supply of 21,000,000 BTC. In the past week, Bitcoin’s price shows a decrease of 1.49%, reflecting the recent market shifts.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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- Sep 11, 2024 at 05:05 am
- Glassnode’s latest report reveals a persistent rise in Bitcoin’s hashrate despite falling revenues for miners. Concurrently, investor engagement with exchanges and trade volumes are showing a notable decline, reflecting reduced appetite for speculation.
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- Meme Coins Explode Despite Rektember Fears
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- Meme coins are starting to show significant bullish strength as global liquidity is on the uptick.
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- Bitcoin (BTC) Whales Ramp Up Accumulation as Exchange Reserves Decline
- Sep 11, 2024 at 05:05 am
- A significant shift has occurred in the Bitcoin (BTC) market as large holders, often referred to as “whales,” have ramped up their accumulation.
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- Accenture Invests in Emtech, a Fintech Startup Providing Software-as-a-Service to Central Banks and Fintech Companies
- Sep 11, 2024 at 05:05 am
- Information and financial technology services company Accenture has invested in fintech startup Emtech, which provides software-as-a-service to central banks and fintech companies.
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- Meme Coins Buck Last Week's Downtrend and Embark on a Bullish Pathway
- Sep 11, 2024 at 05:00 am
- Among the top gainers are Popcat, Dogs, Dogwifhat, Dogecoin, and Brett, while the new presale token Pepe Unchained is also showing strength.
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- Venmo and PayPal Users Can Now Transfer Cryptocurrency Using ENS Names
- Sep 11, 2024 at 04:55 am
- An ENS name can act as a nickname for a blockchain address. Instead of sending tokens to a long, complicated address made up of letters and numbers, users can register a name like “your name.eth” to transfer cryptocurrency.
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- SwissCheese (SWCH) Rallies 111% in a Week, But Is It Worth Buying?
- Sep 11, 2024 at 04:45 am
- SwissCheese stands out from typical meme coins by establishing a unique position in the crypto market. Launched on the Polygon ecosystem
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- Friend.tech Denies Shutdown Rumors, Clarifies Smart Contract Renouncement
- Sep 11, 2024 at 04:45 am
- Web3 social app Friend.tech has denied rumors of shutting down its app, clarifying the earlier announcement of renouncing control of its smart contracts.
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- Friend.tech Denies Shutdown Rumors, FRIEND Token Surges 58%
- Sep 11, 2024 at 04:45 am
- The popular decentralized social media platform Friend.tech has been at the center of industry chatter in recent days, with rumors swirling about a potential shutdown following a shuffle in its administration.
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