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27 July 2021

Most Bitcoin Right Now Is Being Sold at a Loss: Report - Decrypt

Most Bitcoin Right Now Is Being Sold at a Loss: Report - Decrypt


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Most Bitcoin Right Now Is Being Sold at a Loss: Report.

Not only has trading volume since plummeted, but most of the coins that are being traded right now are being sold by investors who bought the top—or very close to it— according to a new report from analytics provider Glassnode that paints a bearish short-term picture for Bitcoin's price.

"The Bitcoin network is currently settling $5.3B/day compared to the $15.5B in daily volume settled at the 2021 peak," the report notes, before continuing: "Of the transaction volume that is being settled, a dominant majority appear to be coins realising losses.".

The analytics firm finds that 33% of the Bitcoin in active circulation "is currently holding an unrealized loss." That means that one-third was bought for a price above the low $30,000's.

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