Data on the series show that Bitcoin investors have participated in a huge amount of loss with the passage of the original price on a collapse.
I noticed the loss of Bitcoin, which was modified to a recent rise in a recent rise
In new mail In X, Glassnode spoke on the size of the series about the latest trend in the loss of Bitcoin. The “achieved loss” here refers to an indicator that measures the total amount of loss that investors realize through their network transactions every day.
The scale works by passing through the date of transferring each currency sold on Blockchain to find out the price that was transferred before. If the last sale price is more than the current price of any symbol, it can be assumed that the sale of this coin leads to a loss.
The achieved loss considers that this loss is equal to the difference between prices. In this way, the scale calculates the loss that each transaction involves and then finds the sum of the network. The scale of its counterpart known as the profit is tracked, followed by transfers of the opposite type.
Now, here is the Glassnode chart, which shows the trend in the loss of Bitcoin over the past two years:
The value of the indicator appears to have witnessed a sharp spike in recent days | Source: Glassnode on X
In the graph, the release of the achieved loss is “the rate by the entity”, which means that the scale only explains the sales that occur between two separate entities, not only addresses. The entity is a group of portfolios that the Analysis Company decided to belong to the same investor.
The transactions between the addresses of the investor himself do not lead to any loss or profit, so it makes sense to exclude such movements from the indicator data.
As shown in the plan, the achieved loss that was modified by Bitcoin noted the presence of a recent height, which means that investors have achieved a large number of underwater transactions.
It is normal for this surrender to be the result of the recent BTC volatility. During the initial collapse, the value of the scale amounted to $ 818 million, which is the second largest loss event for the session so far.
The only surrender occurred as the index noted that the greatest peak was during the relaxation process in the yen trade last year, as investors achieved a total of $ 1.34 billion in losses.
Historically, the collective sales led to the investors to Bitcoin, where the symbols tend to move from weak hands to strong tools in these periods. It remains now to see whether or not the height of the achieved loss has a similar effect on the encrypted currency this time or not.
BTC price
At the time of writing this report, Bitcoin floats about $ 90,300, an increase of approximately 7 % in the past seven days.
Looks like the price of the coin has been making recovery from the crash | Source: BTCUSDT on TradingView
Distinctive image from Dall-I, Glassnode.com, Chart from TradingView.com
