Bitcoin‘s recent price slump has sent many investors into panic mode, forcing them to sell their BTC holdings at a loss. However, blockchain analytics firm Glassnode noted that long-term holders of the firstborn crypto are unshaken by the current market slump.
Long-Term Holders ‘Largely Unaffected’
Glassnode said that Bitcoin, like other cryptocurrencies, experienced a shaky week in which traders saw the world’s most dominant digital asset crash below the $100,000 level. However, BTC’s long-term holders seem insulated from all the chaos surrounding the cryptocurrency community.
Bitcoin Short-Term Holders Bleed
Meanwhile, short-term BTC holders experienced a significant loss after the crypto’s price slid below the $100,000 level, causing panic among these traders. Glassnode said that when Bitcoin plummeted to $100,000 over the weekend, it pushed “a notable amount of short-term holder (STH) supply into loss.”
Bearish Market Sentiment
An analyst noted that Bitcoin briefly dipped so low that it nearly hit $90,000 per coin, as the dominating crypto suffered after the market crash. Santiment added that there have been overwhelmingly negative reactions from investors in the cryptocurrency community as a result of the price decline, and for a moment it seems BTC is about to enter bearish territory.
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2025-02-05 02:11