Understanding Why 80% of Bitcoin Owners are Still in Loss Despite BTC Stabilizing at $60K
Bitcoin [BTC] has struggled to maintain its position above the $60,000 price level, impacting short-term holders. A majority of Bitcoin holders remain profitable despite the recent price fluctuations.Bitcoin [BTC] has been facing challenges in maintaining its position above the $60,000 price level.This has particularly affected short-term Bitcoin holders, many of whom are now holding their assets at a loss.Short Bitcoin Holders at a LossA recent report revealed that over 80% of short-term Bitcoin holders were holding their BTC at a loss.This is due to Bitcoinâs struggle around the $60,000 price level.Similar market conditions were observed in 2018, 2019, and mid-2021, leading to increased panic selling.Analysis of the 30-day Market Value to Realized Value (MVRV) confirmed the challenges faced by short-term Bitcoin holders.The MVRV has been below zero since the beginning of the month, indicating that most short-term holders were underwater.
