Tuesday, May 30, 2023
  • Login
  • Register
btclive365.com
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
btclive365.com
No Result
View All Result
Home Dogecoins

Bitcoin’s Price Drop Plunges 2.71M BTC Underwater

btclive365 by btclive365
May 26, 2023
in Dogecoins
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


35 mins ago | 2 mins read

google-news

Bitcoin Bitcoin News
  • Growing underwater Bitcoin supply may create selling pressure.
  • Price drops indicate the market is nearing a bottom, presenting buying opportunities.

The significant digital asset, Bitcoin, recently witnessed a 14.6% decline in its worth, falling from a previous peak of $30.9K to a present value of $26.4K. This marked downturn might provoke a measure of discomfort in specific individuals. However, it presents an ideal opportunity to delve into the complexities of the marketplace and scrutinize the broader consequences of such shifts in value.

The -14.6% move downwards from the local top of $30.9K, to our current spot price of $26.4K has propelled 2.71M BTC into an underwater position, equivalent to 14% of the circulating supply.

This raises the total supply in loss across the aforementioned period from 3.96M to 6.67M… pic.twitter.com/Ujwqj8YLwR

— glassnode (@glassnode) May 26, 2023

This downward trajectory has further led 2.71 million BTC into an ‘underwater’ position, meaning these assets are now worth less than initially purchased. This figure equates to approximately 14% of the circulating supply of Bitcoin. 

Consequently, this has raised the total supply of Bitcoin, currently in loss from 3.96 million to 6.67 million BTC. A sharp increase, amounting to an alarming 68.4% in the said period. 

Bitcoin’s Dip Triggers Selling Frenzy: What’s Next for Investors?

Firstly, a growing supply of Bitcoin ‘in the red’ can signal increased selling pressure. As more investors discover their assets are in a loss-making position, they might mitigate further losses by selling, adding more momentum to the downward trend of the price. This phenomenon might amplify the short-term downward trend.

Nevertheless, it’s crucial to highlight that such developments don’t necessarily signal a calamity for Bitcoin. Steep declines in price, followed by a surge in the supply of Bitcoin being traded at a loss, suggest the market is approaching its lowest point. Historically, such instances have often been followed by a reversal as ‘weak hands’ get shaken out and more resilient investors buy the dip, driving the price back up.

Moreover, times of downturn frequently present chances for long-term investors to augment their holdings at reduced prices. These investors, commonly dubbed ‘HODLers’ within cryptocurrency, possess a more extended investment outlook and remain unperturbed by transient market shifts. They see these dips as opportunities to accumulate more Bitcoin at a discounted rate.

Recommended For You:

Bitcoin (BTC) Price Prediction 2023





Source link

Previous Post

Gains through strong resistance at 1.2425 would be more generally constructive – Scotiabank

Next Post

ECB sums up digital euro prototyping exercise as it nears possible pilot launch

btclive365

btclive365

Next Post

ECB sums up digital euro prototyping exercise as it nears possible pilot launch

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest

How to sell Bitcoin – Bitcoin Magazine

November 9, 2022

Add a Tangible Asset to Your Portfolio: Buy Gold

January 7, 2023

Building Bitcoin Standard In Portugal – Bitcoin Magazine

November 9, 2022

USD/ZAR Rallies as SA President Ramaphosa Faces Potential Impeachment

December 1, 2022

Bitcoin price hits 2-week lows as FTX ‘bank run’ drains BTC reserves

1

Building Homesteader Lifestyle With Bitcoin – Bitcoin Magazine

1

Arbitrum dealings activity rockets 550% since August: Delphi Digital

0

Bitcoin․com Doubles Down on Self-Custody With Launch of Verse DEX – Press release Bitcoin News

0

5 Benefits Of Payment Orchestration For Crypto Exchanges

May 30, 2023

Injective (INJ) Records the Highest Spike in Daily Trading Volume

May 30, 2023

Markets remain cautiously optimistic, US Dollar extends rally

May 30, 2023

Binance eyes Global leadership with New Power Player – Richard Teng

May 30, 2023

Recent News

5 Benefits Of Payment Orchestration For Crypto Exchanges

May 30, 2023

Injective (INJ) Records the Highest Spike in Daily Trading Volume

May 30, 2023

Markets remain cautiously optimistic, US Dollar extends rally

May 30, 2023

Binance eyes Global leadership with New Power Player – Richard Teng

May 30, 2023

We deliver up-to-date, breaking crypto news about the latest Bitcoin, Ethereum, Blockchain, NFTs, and Altcoin trends and happenings

Follow Us

Browse by Category

  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Cryptocurrency News Today
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

Recent News

5 Benefits Of Payment Orchestration For Crypto Exchanges

May 30, 2023

Injective (INJ) Records the Highest Spike in Daily Trading Volume

May 30, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2022 btclive365 All Right Rivered .

No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

© 2022 btclive365 All Right Rivered .

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In