Source: Cointelegraph Original: "{title}"
According to the latest research, Bitcoin speculators have lost over $100 million in just six weeks due to panic selling. Data from on-chain analysis platform CryptoQuant reveals the extent of surrender among short-term holders (STHs).
Investors holding Bitcoin for one to three months have been hit hard by the market's severe pullback, with many unable to hold on.
CryptoQuant states that this group of short-term holders (STH)—defined as investors who purchased Bitcoin within the last six months—currently faces losses of about $100 million.
"This represents a significant decrease in the value of Bitcoin held by this group of investors, as many bought at higher prices and are now exiting at a loss," Onchained wrote in its March 13 blog post titled "Quicktake."
Onchained mentioned that the market value and realized value of the relevant investors correspond to the current value of their held Bitcoin and the price at which it was last transferred on-chain.
"The market value (MC) of the Bitcoin they hold is now below the realized value (RC), indicating that these investors are locking in realized losses," the blog pointed out.
"This behavior exacerbates selling pressure and may lead to further price declines in the short term."
Market value and realized value of Bitcoin held by 1-3 month investors (screenshot). Source: CryptoQuant
An accompanying chart shows that the weekly change in recent realized value has exhibited severe negative volatility, a situation not seen for many months.
The net unrealized profit/loss (NUPL) for this group is currently -0.19, which also indicates that the amount of "loss-holding" in Bitcoin exceeds any moment in the past year.
NUPL of Bitcoin held by 1-3 month investors. Source: CryptoQuant
February was just another test for recent Bitcoin buyers, as BTC/USD has dropped by as much as 30% compared to the all-time high set in mid-January.
As reported by Cointelegraph, sudden price corrections often lead to significant losses for speculative investors, with panic and fear making loss-driven selling the norm.
Meanwhile, institutional investors in large trades are increasingly inclined to ignore short-term Bitcoin price fluctuations, increasing their positions around the $80,000 level.
In its latest weekly report released on March 12, CryptoQuant warned that the current correction may be more stubborn than it appears.
"Historically, corrections in bull markets are usually brief and accompanied by strong rebounds, but current on-chain indicators show potential structural changes that may signal a broader bear market phase is approaching," the report concluded.
Bitcoin price decline year over year. Source: CryptoQuant
Related: Weekly Review and Next Week's Outlook
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