{"id":43117,"date":"2021-05-25T11:03:42","date_gmt":"2021-05-25T08:03:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43117"},"modified":"2025-08-31T02:13:55","modified_gmt":"2025-08-30T23:13:55","slug":"bitcoin-holders-register-unprecedented-losses-as-market-rout-deepens","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-holders-register-unprecedented-losses-as-market-rout-deepens\/","title":{"rendered":"Bitcoin holders register unprecedented losses as market rout deepens"},"content":{"rendered":"<p>From May 17 to 23, the volume of losses recorded by Bitcoin holders reached a historic high of $14.2 billion. The scale of capitulation surpassed previous records in March 2020 and in January\u2013February 2018, according to Glassnode.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> has experienced a tremendous deleveraging, with prices falling over 50%, and on-chain entities taking historically large losses.<\/p>\n<p>We analyse:<br \/>\u2014 Magnitude of Losses<br \/>\u2014 Cross Section of Sellers<br \/>\u2014 Market Deleveraging<\/p>\n<p>Read more in The Week On-chain\ud83d\udc47<a href=\\\"https:\/\/t.co\/mafnIqtfTp\\\">https:\/\/t.co\/mafnIqtfTp<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\\\"https:\/\/twitter.com\/glassnode\/status\/1396858528934019082?ref_src=twsrc%5Etfw\\\">May 24, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p>The May 19 figure of $4.52 billion was three times higher than the losses seen in previous episodes of mass unwinding of losing positions.<\/p>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-image\\\">\n<figure class=\\\"aligncenter size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"574\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-455-1024x574.png\\\" alt=\\\"\u0414\u0435\u0440\u0436\u0430\u0442\u0435\u043b\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0437\u0430\u0444\u0438\u043a\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0440\u0435\u043a\u043e\u0440\u0434\u043d\u044b\u0435 \u0443\u0431\u044b\u0442\u043a\u0438 \u043d\u0430 \u0444\u043e\u043d\u0435 \u043e\u0431\u0432\u0430\u043b\u0430 \u0440\u044b\u043d\u043a\u0430\\\" class=\\\"wp-image-136524\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-455-1024x574.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-455-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-455-768x431.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-455-1536x861.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/1-455.png 1600w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: Glassnode.<\/figcaption><\/figure>\n<\/div>\n<p>\\n\\n<\/p>\n<p>The net loss indicator on May 19, accounting for coins sold at a profit, also hit a new high. The figure of $2.56 billion, up 185% from the previous historical maximum of $1.38 billion, recorded in March 2020.<\/p>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-image\\\">\n<figure class=\\\"aligncenter size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"572\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/2-412-1024x572.png\\\" alt=\\\"\u0414\u0435\u0440\u0436\u0430\u0442\u0435\u043b\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0437\u0430\u0444\u0438\u043a\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0440\u0435\u043a\u043e\u0440\u0434\u043d\u044b\u0435 \u0443\u0431\u044b\u0442\u043a\u0438 \u043d\u0430 \u0444\u043e\u043d\u0435 \u043e\u0431\u0432\u0430\u043b\u0430 \u0440\u044b\u043d\u043a\u0430\\\" class=\\\"wp-image-136526\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/2-412-1024x572.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-412-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-412-768x429.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/2-412-1536x858.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/2-412.png 1600w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: Glassnode.<\/figcaption><\/figure>\n<\/div>\n<p>\\n\\n<\/p>\n<p>Net losses led to a decline in Bitcoin&#8217;s realized market capitalization, which takes into account prices at the last activity. For the week, the metric fell from an all-time high of $377 billion to $370 billion.<\/p>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-image\\\">\n<figure class=\\\"aligncenter size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"575\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/3-246-1024x575.png\\\" alt=\\\"\u0414\u0435\u0440\u0436\u0430\u0442\u0435\u043b\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0437\u0430\u0444\u0438\u043a\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0440\u0435\u043a\u043e\u0440\u0434\u043d\u044b\u0435 \u0443\u0431\u044b\u0442\u043a\u0438 \u043d\u0430 \u0444\u043e\u043d\u0435 \u043e\u0431\u0432\u0430\u043b\u0430 \u0440\u044b\u043d\u043a\u0430\\\" class=\\\"wp-image-136527\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/3-246-1024x575.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/3-246-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/3-246-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/3-246-1536x863.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/3-246.png 1600w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: Glassnode.<\/figcaption><\/figure>\n<\/div>\n<p>\\n\\n<\/p>\n<p>The share of wallets with \u201cprofitable\u201d coins fell to 76%. A similar ratio was observed during corrections in 2011, 2013 and 2016.<\/p>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-image\\\">\n<figure class=\\\"aligncenter size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"575\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/4-148-1024x575.png\\\" alt=\\\"\u0414\u0435\u0440\u0436\u0430\u0442\u0435\u043b\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0437\u0430\u0444\u0438\u043a\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0440\u0435\u043a\u043e\u0440\u0434\u043d\u044b\u0435 \u0443\u0431\u044b\u0442\u043a\u0438 \u043d\u0430 \u0444\u043e\u043d\u0435 \u043e\u0431\u0432\u0430\u043b\u0430 \u0440\u044b\u043d\u043a\u0430\\\" class=\\\"wp-image-136528\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/4-148-1024x575.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/4-148-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/4-148-768x431.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/4-148-1536x862.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/4-148.png 1600w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: Glassnode.<\/figcaption><\/figure>\n<\/div>\n<p>\\n\\n<\/p>\n<p>Experts highlighted three groups of participants who could come down on the sellers\u2019 side in the near term:<\/p>\n<p>\\n\\n<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>24% of \\&#8221;loss-making\\&#8221; addresses that bought Bitcoin above current levels in the last three-to-four months;<\/li>\n<li>holders of \\&#8221;profitable\\&#8221; coins who doubt the recovery of the uptrend;<\/li>\n<li>miners amid tighter regulation of the industry in China.<\/li>\n<\/ul>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">4, Were miners selling Bitcoin? Some already panic sold, others had no choice. Not everyone have access to western hosting sites. There are also added level of uncertainty on current RMB OTC trading channels. Need fiat to cover operational costs at end of the day.<\/p>\n<p>\u2014 Mustafa Yilham (@MustafaYilham) <a href=\\\"https:\/\/twitter.com\/MustafaYilham\/status\/1396574320097431560?ref_src=twsrc%5Etfw\\\">May 23, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>The key question is: how much of the loss-making coins will join the panicked selling? Despite the seriousness of the latest capitulation, the magnitude of the relative unrealized losses is small by historical standards<\/em>, \u2014 the analysts wrote.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-image\\\">\n<figure class=\\\"aligncenter size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"572\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/5-91-1024x572.png\\\" alt=\\\"\u0414\u0435\u0440\u0436\u0430\u0442\u0435\u043b\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0437\u0430\u0444\u0438\u043a\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0440\u0435\u043a\u043e\u0440\u0434\u043d\u044b\u0435 \u0443\u0431\u044b\u0442\u043a\u0438 \u043d\u0430 \u0444\u043e\u043d\u0435 \u043e\u0431\u0432\u0430\u043b\u0430 \u0440\u044b\u043d\u043a\u0430\\\" class=\\\"wp-image-136529\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/5-91-1024x572.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/5-91-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/5-91-768x429.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/5-91-1536x858.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/5-91.png 1600w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: Glassnode.<\/figcaption><\/figure>\n<\/div>\n<p>\\n\\n<\/p>\n<p>The May 19 market crash occurred amid a marked rise in coin inflows to the exchange wallets of three Bitcoin exchanges: Binance, Bittrex and Bitfinex. Glassnode says this is driven by a large proportion of retail investors and the absence of U.S. residents.<\/p>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-image\\\">\n<figure class=\\\"aligncenter size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"576\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/6-65-1024x576.png\\\" alt=\\\"\u0414\u0435\u0440\u0436\u0430\u0442\u0435\u043b\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0437\u0430\u0444\u0438\u043a\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0440\u0435\u043a\u043e\u0440\u0434\u043d\u044b\u0435 \u0443\u0431\u044b\u0442\u043a\u0438 \u043d\u0430 \u0444\u043e\u043d\u0435 \u043e\u0431\u0432\u0430\u043b\u0430 \u0440\u044b\u043d\u043a\u0430\\\" class=\\\"wp-image-136530\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/6-65-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/6-65-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/6-65-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/6-65-1536x864.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/6-65.png 1600w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: Glassnode.<\/figcaption><\/figure>\n<\/div>\n<p>\\n\\n<\/p>\n<p>The downward trend in exchange balances, however, has not changed overall, despite May 2021 events, analysts noted.<\/p>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-image\\\">\n<figure class=\\\"aligncenter size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"574\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/7-38-1024x574.png\\\" alt=\\\"\u0414\u0435\u0440\u0436\u0430\u0442\u0435\u043b\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0437\u0430\u0444\u0438\u043a\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0440\u0435\u043a\u043e\u0440\u0434\u043d\u044b\u0435 \u0443\u0431\u044b\u0442\u043a\u0438 \u043d\u0430 \u0444\u043e\u043d\u0435 \u043e\u0431\u0432\u0430\u043b\u0430 \u0440\u044b\u043d\u043a\u0430\\\" class=\\\"wp-image-136531\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/7-38-1024x574.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/7-38-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/7-38-768x431.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/7-38-1536x861.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/7-38.png 1600w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: Glassnode.<\/figcaption><\/figure>\n<\/div>\n<p>\\n\\n<\/p>\n<p>As reported, <a href=\"https:\/\/u1f987.com\/en\/news\/opinion-whales-bought-nearly-122600-btc-amid-market-downturn\">whales purchased nearly 122,600 BTC<\/a> amid the latest market downturn.<\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From May 17 to 23, the volume of losses recorded by Bitcoin holders reached a historic high of $14.2 billion. The scale of capitulation surpassed previous records in March 2020 and in January\u2013February 2018, according to Glassnode.<\/p>\n","protected":false},"author":1,"featured_media":43118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1273,1145],"class_list":["post-43117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-glassnode","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43117"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43117\/revisions"}],"predecessor-version":[{"id":43119,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43117\/revisions\/43119"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/43118"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}