According to Odaily, Bitcoin experienced a sharp drop to below $60,000 over the last weekend, resulting in realized losses exceeding $537 million. The majority of these losses were incurred by short-term holders (STH). This sell-off highlighted the volatility and reactive behavior of these market participants, with $441 million of the losses coming from users who held Bitcoin for a month or less. As the market fluctuated, key on-chain indicators showed a dramatic decrease in the proportion of profitable STH supply.
Bitcoin Plunge Below $60,000 Leads to Significant Losses
![](https://public.bnbstatic.com/image/pgc/202211/ff39a105a210ecd0a61407a69ad82dbd.jpg)
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