#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
💬 Do you think Bitcoin will become a new norm for corporate asset allocation? How might this impact Bitcoin’s price? What’s your recent BTC trading strategy? Post to share your price predictions, market analysis, and strategies with us using the topic tag!
🎁 Meanwhile, Gate’s BTC Staking event is in full swing! Simply stake your BTC and earn up to 3% APY. Click the link to start staking and enjoy your earnings: https://ww
The Bitcoin crash caused short-term Bitcoin holders to panic and lose $2.6 billion
As analyst James V. Straten explains in a new article on X, Bitcoin short-term holders showed signs of capitulation during the latest cryptocurrency price drop.
A "short-term holder" (STH) is a BTC investor who has purchased their tokens in the last 155 days. STH makes up one of the two main segments of the market, the other being the "long-term holders" (LTH).
According to statistics, the longer an investor holds a token, the less likely they are to sell it at any time. This means that when an asset crash or rally occurs, relatively novice STHs usually sell off quickly. LTH, on the other hand, usually exhibits elasticity and is only sold at specific points.
One way to track whether these groups are selling or not is through the volume of transfers they send to exchanges. First, Figure One is a chart that shows the trend of Bitcoin transaction inflows for STH in the loss.
As you can see in the chart, Bitcoin STH has transferred around $2.6 billion worth of tokens to exchanges over the past day, which means that some members of the group have capitulated. This time the increase was significant, but it was less than the loss-making events that occurred during the price drop after the BTC spot exchange-traded fund (ETF) was approved.
These loss-making sellers may have been those who participated in the BTC rally and broke through the all-time high of $69,000 as a result of FOMO, but their convictions were not strong enough to withstand the massive collapse that BTC soon observed.
In the recent price swings, STH is not the only group exiting the market. LTH also appears to have made some sell-offs. The difference, however, is that these holders have already made a profit.
Recent data on the volume of transactions of profitable LTH shows that Bitcoin LTH participated in the largest profit-taking event since July 2021, transferring $1.5 billion worth of tokens to exchanges.
As a result, the recent volatility seems to have shaken the faith of some diamond holders, who at least still made a profit.
Bitcoin is currently trading around the $65,800 mark, up 8% over the past week.
(Source: Keshav Verma)