Short-term Bitcoin holders are experiencing losses that exceed those during the FTX crash, with no widespread panic evident. Affected traders are facing a loss margin of -18.4%, close to the -18.9% recorded in 2022.
The uncertainty is most pronounced among traders holding Bitcoin for only 1 to 3 months. Many have continued to hold rather than capitulate, suggesting a blend of caution and hope, even during challenging market dynamics.
Despite the severity of losses that hark back to the FTX disaster, today’s environment differs due to a lack of panic. The current market shows cautious observers, hinting that deeper sentiment changes may be coming.
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