Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.
Highlights
- Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments.
- In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss.
- More than $3.15 billion in value moved into or out of exchanges, the largest amount since market hit its all-time high in November 2021.
- Analysts from Glassnode also noted an influx of “urgent transactions” amid this latest sell-off, in which investors paid higher fees, indicating they were willing to pay a premium in order to expedite transaction times.
- The total value of all on-chain transaction fees paid reached 3.07 bitcoin over the last week.