Bitcoin Short-Term Holders Face Losses, Signaling Potential Downtrend
CryptoNewsTerminal Staff18 Aug, 2024
Bitcoin Short-Term Holders Face Losses, Signaling Potential Downtrend
On-chain analytics firm Glassnode's lead analyst Checkmate has shared that over 80% of Bitcoin's short-term holders (STHs) are currently experiencing losses. This situation mirrors similar market conditions witnessed in mid-2018, 2019, and 2021, which historically have led to panic selling and further downtrends. As of writing, Bitcoin (BTC) is trading at $58,440.28, marking a 1.92% decline, according to CoinMarketCap.
