#BitcoinPriceWatch

According to Glassnode, daily losses for investors exceeded $1.2 billion amid a massive sell-off of the first cryptocurrency by short-term holders at a discount of over 30%. The main blow fell on short-term holders of the crypto asset (STH), who invested in Bitcoin less than 155 days ago. The volume of Bitcoin sold by STH at a loss reached 2.8 million coins, marking the highest level since November 2022.
Analysts from the platform added that the short-term drop in the market value of Bitcoin to $80 500, recorded on the Coinbase exchange, only heightened the emotional tension among Bitcoin investors and reminded them of the chaos of 2022, when thousands of cryptocurrency holders incurred losses during the FTX collapse.
Glassnode added that long-term holders (LTH) of bitcoins are still maintaining their positions, which softens the overall picture. However, the wave of panic may intensify due to the continued outflow of funds from spot Bitcoin ETFs, which could ultimately force some LTH to realize their losses.
On the eve, analysts from the investment group of JPMorgan Bank warned that the largest corporate holder of bitcoins — the American company Strategy — may lose its place in the MSCI stock indices due to changes in the listing rules of the stock indices and the excessive dominance of bitcoin among its assets.