#MarketBuyOrHold? As bitcoin approached $100,000 we saw record notional profit-taking, however, as bitcoin dropped to almost $90,000 we are seeing record notional loss-taking.
Short-term holders have sent almost $8 billion worth of bitcoin to exchanges at a loss over the past two days.
The volatility in recent bitcoin price action has seen wild record swings in profit-taking to panic selling.
However, the current bitcoin cycle has been rather muted in terms of realized volatility and drawdowns compared to previous ones. The recent drop from nearly $100,000 to almost $90,000, just shy of a 10% correction.
Short-term holders have sent almost $8 billion worth of bitcoin to exchanges at a loss over the past two days.
The volatility in recent bitcoin price action has seen wild record swings in profit-taking to panic selling.
However, the current bitcoin cycle has been rather muted in terms of realized volatility and drawdowns compared to previous ones. The recent drop from nearly $100,000 to almost $90,000, just shy of a 10% correction.