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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) |
|---|---|---|---|
| Bitcoin (BTC) | 3.71 | $72,084.86 | $45.5B |
| Ethereum (ETH) | 3.43 | $4,038.91 | $20.8B |
| XRP (XRP) | 18.52 | $0.727106 | $4.4B |
| Solana (SOL) | 1.58 | $147.242060 | $3.8B |
| Binance Coin (BNB) | -2.22 | $519.52 | $3.0B |
| USD Coin (USDC) | 0.03 | $0.999697 | $2.4B |
| Dogecoin (DOGE) | 0.96 | $0.174374 | $2.1B |
| Shiba Inu (SHIB) | -2.92 | $0.000033 | $1.7B |
| Floki Inu (FLOKI) | -7.67 | $0.000267 | $1.3B |
| Avalanche (AVAX) | 13.16 | $47.596296 | $1.2B |
