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Bitcoin loses another $1,000 as short-term holders keep getting rid of their BTC, a report says
Recent data provided by Glassnode shows that Bitcoin short-term holders have been dumping their BTC at a loss over the past two weeks.
The STH-SOPR indicator on a Glassnode chart has dropped below one. This metric deals with spent outputs that are younger than 155 days, so this is a valid indicator to analyze patterns in short-term investors' actions.
The flagship cryptocurrency, Bitcoin, has been declining since May 10, when it went south from the $58,770 zone. On May 21, BTC failed another attempt to fix above $40,000 and went under this psychological level of support.On May 23, it reached a low of $32,830 and, at press time, it is changing hands at $36,184, as per data provided by CoinMarketCap.
As the short-term holder sell-off continues, Bitcoin lost around $1,000 earlier today, dropping from the $37,415 level.
Source : u.today
| Coin | Change(%) | Price | Volume (24h) |
|---|---|---|---|
| Ethereum Meta (ETHM) | 0.03 | $0.000895 | $705461.9B |
| SafeMoon (SAFEMOON) | -0.05 | $0.000002 | $29.3B |
| Bitcoin (BTC) | -0.89 | $85,190.52 | $26.4B |
| Ethereum (ETH) | -0.52 | $2,803.00 | $14.2B |
| Solana (SOL) | -3.47 | $118.121835 | $3.7B |
| USD Coin (USDC) | -0.01 | $0.999770 | $3.1B |
| XRP (XRP) | -2.55 | $1.814535 | $2.8B |
| Dogecoin (DOGE) | -2.97 | $0.122002 | $1.5B |
| Binance Coin (BNB) | -1.51 | $826.23 | $1.4B |
| Litecoin (LTC) | -2.22 | $73.89 | $841.1M |
