Bitcoin whales and sharks are frantically selling at a loss. During this period, the average daily loss (selling at a loss) exceeds $200 million. This is a typical phenomenon of large investors collectively surrendering in the middle of a bear market.
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glassnode
@glassnode
The big hands are bleeding.
With price contracting from ATH, Sharks & Whales (0.1K–10K BTC) are realizing losses at scale. The 7D-SMA of realized loss is now at >$200M/day.
Typical capitulation behaviour from larger entities.
📉http://glassno.de/4v9gzw7
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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