Bitcoin Holders Experience Worst Losses Since 2022, But Long-Term Holders Remain Profitable

Bitcoin Crash Leads to Major Losses for Some Holders, But Long-Term Holders Remain Profitable

A recent report by Glassnode has revealed that Bitcoin’s crash has resulted in some of the worst losses for holders since the bear market of 2022. Over the last 30 days, BTC’s price has declined by 14.45%, causing significant financial stress for Short Term Holders (STH) who have held the coin for less than 155 days.

Despite the losses incurred by some holders, the report indicates that Bitcoin is still in a bull phase. Long-term holders are actually more profitable than their short-term counterparts, as evidenced by the MVRV Long/Short Difference metric, which currently stands at 14.08%.

While the recent losses have put pressure on bulls, the Realized Profit/Loss Ratio suggests that Bitcoin is still in a correction phase of the bull market. However, if the price fails to bounce back, BTC could potentially enter a bear phase.

At the time of writing, Bitcoin is valued at $57,848, with a slight increase over the last 24 hours. The future of the coin remains uncertain, with the potential for a recovery or further losses depending on market conditions.

Overall, the recent crash has highlighted the volatility of the cryptocurrency market and the importance of long-term investment strategies in weathering market fluctuations.