{"id":636516,"date":"2024-08-20T02:30:20","date_gmt":"2024-08-20T02:30:20","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=636516"},"modified":"2024-08-19T21:00:49","modified_gmt":"2024-08-19T21:00:49","slug":"over-80-of-short-term-bitcoin-holders-underwater","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/bitcoin-news\/over-80-of-short-term-bitcoin-holders-underwater\/","title":{"rendered":"Over 80% of Short-Term Bitcoin Holders Underwater \u2014 What This Means For BTC"},"content":{"rendered":"<p>Bitcoin (BTC) is <a href=\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-sees-momentum-in-hashrate-despite-failure-to-beat-60000-resistance\/\" target=\"_blank\" rel=\"noopener \">currently in red regarding price performance<\/a>, dragging the rest of the crypto market along with it. Amid the continuous bearish price action, the latest data has revealed that Bitcoin short-term holders now face losses compared to their initial purchase prices.<\/p>\n<p>Onchain data expert James Check highlighted this in a recent <a href=\"https:\/\/twitter.com\/_Checkmatey_\/status\/67540737?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">post<\/a> on X, disclosing that over 80% of Bitcoin&#8217;s short-term holders, those holding their BTC for less than 155 days, have bought their tokens at prices higher than the current market rate.<\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GVTdX-ZaUAA1WRB?format=jpg&amp;name=medium\" alt=\"Short-term holders metric.\" width=\"1200\" height=\"536\"><figcaption class=\"wp-caption-text\">Short-term holders metric. | Source: James Check on X<\/figcaption><\/figure>\n<h2>Underwater Investors, Implication For Bitcoin<\/h2>\n<p>This situation of the majority of <a href=\"https:\/\/shenyangcang.com\/news\/wall-street-titans-boost-crypto-stakes-us-bitcoin-etfs-garner-2-4b-in-q2-inflows\/\" target=\"_blank\" rel=\"noopener \">short-term holders<\/a> being in the red (at a loss), as pointed out by Check, is quite similar to the scenario that took place in &#8220;2018, 2019, and mid-2021, which signaled many investors were at risk of panicking and precipitating a bearish trend.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Right now, over 80% of <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> Short-Term Holders are underwater, meaning their coin was acquired at a price above the current spot price.<\/p>\n<p>This is similar to 2018, 2019, and mid-2021 which signalled many investors were at risk of panicking, and precipitating a bearish trend. <a href=\"https:\/\/t.co\/8jM7PBqh5z\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/8jM7PBqh5z<\/a><\/p>\n<p>\u2014 _Checkmate \ud83d\udfe0\ud83d\udd11\u26a1\u2622\ufe0f\ud83d\udee2\ufe0f (@_Checkmatey_) <a href=\"https:\/\/twitter.com\/_Checkmatey_\/status\/67540737?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">August 19, 2024<\/a><\/p><\/blockquote>\n<p>Despite the bleak outlook suggested by the high percentage of underwater short-term holders, the implications for the market are nuanced.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-sees-momentum-in-hashrate-despite-failure-to-beat-60000-resistance\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Sees Momentum In Hashrate Despite Failure To Beat $60,000 Resistance<\/a><\/div>\n<p>Check highlighted that the psychological impact on holders varies greatly depending on the extent of their losses. He elaborates that a minor unrealized loss, such as 1%, has a significantly different psychological effect on an investor than a more substantial loss of 20%.<\/p>\n<p>Despite the high percentage of holders facing losses, the total unrealized loss across the market equates to only 4% of Bitcoin\u2019s total market capitalization. This indicates that while the <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-spot-perpetual-gap-points-to-continued-selling-pressure-analyst\/\" target=\"_blank\" rel=\"noopener \">sentiment<\/a> may be bearish, the financial impact might not be as severe as expected.<\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GVTdZYFb0AAkExB?format=jpg&amp;name=medium\" alt=\"Unrealised loss of Bitcoin holders metric.\" width=\"1200\" height=\"536\"><figcaption class=\"wp-caption-text\">Unrealized loss of Bitcoin holders metric. | James Check on X<\/figcaption><\/figure>\n<h2>BTC Market Performance And Outlook<\/h2>\n<p>Bitcoin has continued to gradually <a href=\"https:\/\/shenyangcang.com\/analysis\/btc\/bitcoin-price-trims-gains-60k\/\" target=\"_blank\" rel=\"noopener \">plunge towards the downsides<\/a>, breaking multiple supports. Over the past week, the asset has declined by 1.7% and further down by 2.7% in the past day.<\/p>\n<p>This bearish performance has brought the asset to trade as low as $57,918 earlier today before now, retracing slightly to trade at $58,339 at the time of writing. Interestingly, despite the decline, BTC&#8217;s daily trading volume has seen quite the <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-market-is-facing-a-net-sell-side-bias\/\" target=\"_blank\" rel=\"noopener \">opposite performance<\/a>.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/cJ7d6hQ3\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>According to data from CoinGecko, this metric has increased from below $17 billion at the start of today to roughly $22.6 billion.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/analysis\/btc\/bitcoin-price-trims-gains-60k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Trims Gains: Is The Recovery Losing Steam?<\/a><\/div>\n<p>Regardless, several analysts remain bullish on BTC, anticipating a rebound soon. Renowned crypto analyst Elsa on X has revealed that Bitcoin&#8217;s daily MACD indicator has switched bullish. However, it appears BTC is &#8220;lacking&#8221; the liquidity needed to make that push to the upside.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$BTC<\/a> daily MACD has turned bullish<\/p>\n<p>But still, liquidity is lacking which is needed for a big <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> pump! <a href=\"https:\/\/t.co\/snUqfPdFGU\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/snUqfPdFGU<\/a><\/p>\n<p>\u2014 Elja (@Eljaboom) <a href=\"https:\/\/twitter.com\/Eljaboom\/status\/32432348?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">August 19, 2024<\/a><\/p><\/blockquote>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) is currently in red regarding price performance, dragging the rest of the crypto market along with it. Amid the continuous bearish price action, the latest data has revealed that Bitcoin short-term holders now face losses compared to their initial purchase prices. Onchain data expert James Check highlighted this in a recent post on X, disclosing that over 80% of Bitcoin&#8217;s short-term holders, those holding their BTC for less than 155 days, have bought their tokens at prices higher than the current market rate. Underwater Investors, Implication For Bitcoin This situation of the majority of short-term holders being in the red (at a loss), as pointed out by Check, is quite similar to the scenario that took place in &#8220;2018, 2019, and mid-2021, which signaled many investors were at risk of panicking and precipitating a bearish trend.&#8221; Right now, over 80% of #Bitcoin Short-Term Holders are underwater, meaning their coin was acquired at a price above the current spot price. This is similar to 2018, 2019, and mid-2021 which signalled many investors were at risk of panicking, and precipitating a bearish trend. pic.twitter.com\/8jM7PBqh5z \u2014 _Checkmate \ud83d\udfe0\ud83d\udd11\u26a1\u2622\ufe0f\ud83d\udee2\ufe0f (@_Checkmatey_) August 19, 2024 Despite the bleak outlook suggested by the high percentage of underwater short-term holders, the implications for the market are nuanced. Related Reading: Bitcoin Sees Momentum In Hashrate Despite Failure To Beat $60,000 Resistance Check highlighted that the psychological impact on holders varies greatly depending on the extent of their losses. He elaborates that a minor unrealized loss, such as 1%, has a significantly different psychological effect on an investor than a more substantial loss of 20%. Despite the high percentage of holders facing losses, the total unrealized loss across the market equates to only 4% of Bitcoin\u2019s total market capitalization. This indicates that while the sentiment may be bearish, the financial impact might not be as severe as expected. BTC Market Performance And Outlook Bitcoin has continued to gradually plunge towards the downsides, breaking multiple supports. Over the past week, the asset has declined by 1.7% and further down by 2.7% in the past day. This bearish performance has brought the asset to trade as low as $57,918 earlier today before now, retracing slightly to trade at $58,339 at the time of writing. Interestingly, despite the decline, BTC&#8217;s daily trading volume has seen quite the opposite performance. According to data from CoinGecko, this metric has increased from below $17 billion at the start of today to roughly $22.6 billion. Related Reading: Bitcoin Price Trims Gains: Is The Recovery Losing Steam? Regardless, several analysts remain bullish on BTC, anticipating a rebound soon. Renowned crypto analyst Elsa on X has revealed that Bitcoin&#8217;s daily MACD indicator has switched bullish. However, it appears BTC is &#8220;lacking&#8221; the liquidity needed to make that push to the upside. $BTC daily MACD has turned bullish But still, liquidity is lacking which is needed for a big #Bitcoin pump! pic.twitter.com\/snUqfPdFGU \u2014 Elja (@Eljaboom) August 19, 2024 Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":636547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,85960,629,78790,6664],"class_list":["post-636516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-holders","tag-bitcoin-market","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\n<title>Over 80% of Short-Term Bitcoin Holders Underwater \u2014 What This Means For BTC<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) is currently in red in terms of price performance, dragging the rest of the crypto market along with it. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/shenyangcang.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Over 80% of Short-Term Bitcoin Holders Underwater \u2014 What This Means For BTC","description":"Bitcoin (BTC) is currently in red in terms of price performance, dragging the rest of the crypto market along with it. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/shenyangcang.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Over 80% of Short-Term Bitcoin Holders Underwater \u2014 What This Means For BTC","url":"http:\/\/shenyangcang.com\/bitcoin-news\/over-80-of-short-term-bitcoin-holders-underwater\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/bitcoin-news\/over-80-of-short-term-bitcoin-holders-underwater\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-19-15.40.30-A-digital-illustration-highlighting-the-fact-that-over-80-of-short-term-Bitcoin-holders-are-underwater.-The-image-features-a-Bitcoin-symbol-partially.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-19-15.40.30-A-digital-illustration-highlighting-the-fact-that-over-80-of-short-term-Bitcoin-holders-are-underwater.-The-image-features-a-Bitcoin-symbol-partially.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analysis","bitcoin holders","bitcoin market","btcusdt","crypto"],"dateCreated":"2024-08-20T02:30:20Z","datePublished":"2024-08-20T02:30:20Z","dateModified":"2024-08-20T02:30:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Over 80% of Short-Term Bitcoin Holders Underwater \\u2014 What This Means For BTC\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/bitcoin-news\\\/over-80-of-short-term-bitcoin-holders-underwater\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/bitcoin-news\\\/over-80-of-short-term-bitcoin-holders-underwater\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/DALL\\u00b7E-2024-08-19-15.40.30-A-digital-illustration-highlighting-the-fact-that-over-80-of-short-term-Bitcoin-holders-are-underwater.-The-image-features-a-Bitcoin-symbol-partially.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/DALL\\u00b7E-2024-08-19-15.40.30-A-digital-illustration-highlighting-the-fact-that-over-80-of-short-term-Bitcoin-holders-are-underwater.-The-image-features-a-Bitcoin-symbol-partially.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin holders\",\"bitcoin market\",\"btcusdt\",\"crypto\"],\"dateCreated\":\"2024-08-20T02:30:20Z\",\"datePublished\":\"2024-08-20T02:30:20Z\",\"dateModified\":\"2024-08-20T02:30:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-19-15.40.30-A-digital-illustration-highlighting-the-fact-that-over-80-of-short-term-Bitcoin-holders-are-underwater.-The-image-features-a-Bitcoin-symbol-partially.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/636516"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=636516"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/636516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/636547"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=636516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=636516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=636516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}