Glassnode: Who sold BTC last week

Glassnode, a mobile data analytics company, investigated the Bitcoin crash last week.

1. On December 4, 2021, the Bitcoin futures market experienced a major event and over $ 5.4 billion in open positions were closed. Total term insurance fell 24.5% on the day, from $ 22 billion to $ 16.6 billion.

2. Bitcoin holders achieved the third largest chain of losses in history over the past week, with losses known to exceed $ 2.18 billion.

Comparison: March 2020 is $ 1.38 billion, May 2021 is $ 2.65 billion, June 2021 is $ 3.45 billion.

3. The question is: have Bitcoin holders ever suffered?

If you look at the stocks of long term holders, you can see that there has been no change in any holder over the past week. This store may be populated by short term holders.

4. On the other hand, the short-term SOPR indicator indicates that the group has experienced a significant decline.

STH spending was its weakest recovery since falling to $ 29,000 in July.

5. However, the entry of the Bitcoin exchange is only 2000 and 3200 BTC. While profitable, it is relatively small compared to the BTC over 10,000 BTC that poured into the exchange in May.

As almost 25% of futures contracts close, we can see that the drop in effort is mostly due to sellers.