🚀 **Bitcoin's Wild August: Short-Term Holders Feel the Heat!** 🚀
August has been a rollercoaster for Bitcoin enthusiasts! 🌪️ Amid global market turmoil and the unwinding of the yen-carry trade, Bitcoin experienced a dramatic 32% drop from its all-time high. This sharp decline led to significant stress among short-term holders, with Glassnode reporting their largest unrealized losses since the FTX collapse. 📉
Despite a slight recovery above $57,000, panic selling resulted in a staggering $1.38 billion in realized losses, primarily affecting short-term investors. Meanwhile, Bitcoin whales have been busy, accumulating over 404,448 BTC worth $22.8 billion. 🐋
Stay optimistic, BTC lovers! 🌟